jjonas at nic.fi
Sat Mar 21 01:37:47 MDT 2009
S. Artesian wrote:
> In January 2009 compared with January 2008, industrial production declined
> by 17.3% in the euro area and by 16.3% in the EU27.
> These estimates are released by Eurostat, the Statistical Office of the
> European Communities.
The Finnish statistics bureau reported a few weeks ago about similar
developments, comparing Jan 2008 to Jan 2009:
"According to Statistics Finland, industrial output adjusted for working
days was 19.5 per cent lower in January 2009 than twelve months earlier.
In December industrial output decreased a good 16 per cent from the year
before. In the November to January period slightly more than 15 per cent
had "dissolved" from industrial output when compared with twelve months
back. In 2008 industrial output decreased by just under one per cent.
The last time industrial output fell by more than this was during the
deepest recession in 1991, when it fell by as much as 8.7 per cent. The
decline in output in the recent months has been steeper than in the
deepest recession years during the 1990s."
Of the industries, metal was down 18,7%, chemical 20,7%, manufacturing
24,6% and forest industry a whopping 35%.
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