Industrial production in Finland dropped by 0.3 percent year-on-year in May 2019, down from an upwardly revised 7 percent gain in the previous month. Mining and quarrying output fell for the first time in 15 months (-48 percent vs 14.8 percent in April). In addition, manufacturing growth eased sharply (0.2 percent vs 7.1 percent), amid a slowdown in chemical industry (4.8 percent vs 10.5 percent), machinery and equipment (4.8 percent vs 10.3 percent), leather and related products (3.2 percent vs 12.1 percent), and wood and wood products (1.1 percent vs 4.2 percent); and a further fall in other non-metallic mineral products (-3.4 percent vs -1.4 percent) and basic metals (-4.8 percent vs -5.3 percent). Meantime, electricity, gas, steam and air conditioning supply rose much faster (10.8 percent vs 3.4 percent). On a seasonally adjusted monthly basis, industrial output slumped 2.8 percent, after a 2.6 percent gain in April. Industrial Production in Finland averaged 1.80 percent from 1996 until 2019, reaching an all time high of 23.70 percent in June of 2006 and a record low of -23.30 percent in May of 2009.
Industrial Production in Finland is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Finland to stand at 3.40 in 12 months time. In the long-term, the Finland Industrial Production is projected to trend around 1.80 percent in 2020, according to our econometric models.