FX.co ★ Finland Industrial Production Logs Sharp Decline In March

Industrial production in Finland suffered a significant decline in March, largely a result of political industrial disputes and maintenance shut-downs, according to data released by Statistics Finland on Wednesday.

The data revealed a 3.9 percent month-on-month decrease in industrial output, following a modest 0.2 percent fall. Of all the major industries, only the mining and quarrying sectors and the food industry saw an increase in production from the previous month.

Statistics Finland disclosed that the most dramatic effects of the industrial disputes were experienced by the forest industry. Additionally, the decline in the supply of electricity, gas, steam, and air conditioning was also attributed to maintenance shutdowns.

Compared to the previous year, industrial production fell by 7.7 percent. This came as quite a surprise, especially considering the 1.5 percent increase that was recorded just a month prior.