FX.co ★ Finland Industrial Production Growth Eases

Finland's industrial production experienced its seventh consecutive month of growth in December, although the rate of increase was slower than in November, primarily due to a decrease in chemical industry outputs, as reported by Statistics Finland on Monday.

Industrial production saw a 1.6 percent rise in December compared to the same month the previous year, following a 2.2 percent growth witnessed in November.

Breaking down the sectors, utility output increased by 4.3 percent annually in December, while the electrical and electronics industry also demonstrated growth with a 3.2 percent rise.

In contrast, the chemical industry saw a significant decline in production, plunging 10.0 percent, which was a major factor contributing to the deceleration in overall industrial production growth. Additionally, the mining and quarrying sector experienced a 4.6 percent contraction.

On a month-to-month basis, industrial production declined by 1.7 percent, reversing the 0.7 percent growth observed in November.