Finland’s industrial production decreased at the start of the year, after rebounding in the previous month, data from Statistics Finland showed Thursday.
Industrial production fell a working-day-adjusted 2.0 percent year-over-year in January, reversing a 1.9 percent climb in December.
Production in the electrical and electronics industry declined the most by 15.0 percent annually in January, followed by metal industry with 7.5 percent fall. Manufacturing output also dipped 3.1 percent.
On a monthly basis, industrial production slid 2.1 percent in January, in contrast to a 0.8 percent increase in the preceding month. It was the first decrease in three months.
The capacity utilization rate came in at 79.2 percent in January, down from 79.5 percent a year earlier.
In an another report, the statistical office revealed that manufacturing new orders fell at slower pace of 1.8 percent yearly in January, following a 3.3 percent drop in December. It was the fifth successive monthly decline.
Orders in the chemical industry decreased 3.7 percent and that for manufacture of paper and paper products plunged by 7.8 percent. At the same time, metal industry registered an increase of 1.3 percent.
The material has been provided by InstaForex Company – www.instaforex.com