Turnover in industry drops by 16% in March

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Turnover in industry drops by 16% in March

Working day adjusted turnover in industry (TOL BCD) decreased by 16 per cent in March 2024 from March 2023, according to Statistics Finland.

Turnover decreased most in March in the forest industry and the metal industry.

Seasonally adjusted turnover in industry went down by 5.1 per cent in March from the month before.

Turnover went down in March 2024 in all main industries. Political industrial actions impacted the industries’ turnover in March, but their effect cannot be separated from other reasons that had an effect on turnover development.

Turnover in the forest industry decreased most, being 18.4 per cent lower than one year earlier.

Turnover in the metal industry fell nearly as much, by 18.3 per cent from one year ago. In the chemical industry, turnover went down by 18.0 per cent and in electricity, gas, steam and air conditioning supply by 17.8 per cent from one year back.

Export turnover decreased in March 2024 in nearly all main industries.

Compared to one year before, export turnover fell most in the metal industry (24.7%) and the forest industry (23.6%).

In the chemical industry, export turnover was 20.3 per cent lower than one year previously.

Export turnover grew only in mining and quarrying.

Domestic turnover decreased in several main industries. Domestic turnover declined most in the chemical industry (12.1%) and in mining and quarrying (11.9%).

Domestic turnover in the forest industry was 8.0 per cent lower and in the metal industry 2.5 per cent lower than one year earlier.

Domestic turnover grew most in the electronic and electrical industry, by 3.7 per cent from one year ago.

Seasonally adjusted turnover in industry declined by 5.1 per cent in March 2024 compared to February.

In February, turnover went down by 2.1 per cent and in January turnover grew by 5.7 per cent compared to the previous month.

Source: www.dailyfinland.fi

6 Comments
  1. Emily1985 says

    It’s concerning to see such significant drops in industry turnover. The decrease in the forest and metal industries is particularly alarming. Hopefully, the situation improves soon.

  2. EmilyJohnson says

    It’s concerning to see such a significant drop in industry turnover. The decrease in turnover across various sectors indicates a broader economic slowdown. It’s crucial for policymakers to address the underlying issues affecting industries to stimulate growth and prevent further decline.

  3. Laura84 says

    It’s concerning to see such a significant drop in industry turnover. The decrease in turnover across all main industries signals a challenging economic environment. Hopefully, the industries can recover and bounce back from this decline in the coming months.

  4. Alexandra89 says

    It’s concerning to see such a significant drop in industry turnover. The declines in the forest and metal industries are alarming and indicate potential challenges ahead. It’s crucial to address the factors contributing to this downturn and work towards stabilizing the industry for sustainable growth.

  5. JuliaSmith says

    I believe that the significant drop in industry turnover is concerning and reflects the challenges faced by various sectors. It’s crucial for policymakers and industry leaders to work together to address the underlying issues causing this decline and support the affected industries.

  6. Emily_1985 says

    Could the decrease in turnover be attributed solely to political industrial actions in March, or were there other factors at play as well?

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