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Finland's industrial production growth continued to improve in June, official data showed Tuesday.
Industrial production increased a working day adjusted 14.5% year-on-year in June, faster than a revised 13.2% growth in May, Statistics Finland reported. The pace of growth improved for the fourth consecutive month. Industrial production has been rising since the beginning of the year.
In June, all main industries recorded growth. The biggest increase was in the forest industry, where output rose nearly 31%. The metal industry that excludes electrical and electronics industry grew by almost 26%. In the chemical industry, working day adjusted output gained 13%, while the food industry reported an output growth of 4.5%.
On seasonally adjusted basis, industrial output grew 2.1% from the previous month in June, larger than May's figure of 1.9%. It was the fourth monthly increase in a row. Apart from a downswing in February, seasonally adjusted output has been rising since October 2009, the agency said. During the January-June period, industrial output rose 7.8% from last year. Capacity utilization rate in Finnish manufacturing rose to 78% in June, up 13.8 percentage points from last year.
A latest survey by the Confederation of Finnish Industries EK had shown that Finnish manufacturing companies' business situation remained stable in July. The survey found that a steady production growth is expected for the next few months. Order books have improved, but slightly smaller than average. Meanwhile, stocks of final goods increased. Producer prices increased for the fifth consecutive month in June.
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