FX.co ★ Finnish Industrial Output Stalls in January

Finland’s industrial output was flat year-on-year in January 2026, halting momentum from an upwardly revised 2.3% increase in December. Manufacturing production contracted by 1.8% (after a 3.5% rise in December), erasing the previous month’s gains. The downturn was driven by sharp declines in paper and paper products (-10.4% vs 0.5% in December), printing and reproduction of recorded media (-3.1% vs -0.2%), the chemical industry (-4.5% vs 19.6%), furniture (-8.4% vs -4.3%), and the repair and installation of machinery and equipment (-12.3% vs -7.7%).

Output also fell in mining and quarrying (-0.6% vs 8.8%), while electricity, gas, steam, and air conditioning supply returned to growth, expanding 6.8% after a 4.2% decline in December. On a seasonally adjusted monthly basis, overall industrial output decreased by 1.1% in January, following a downwardly revised 0.7% drop in December.