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Finland Industrial Production Decline Worst In 13 Months

Finland's industrial production fell at the fastest pace in thirteen months in May, figures from Statistics Finland showed on Wednesday.

Industrial production declined a seasonally adjusted 2.8 percent month-on-month in May, reversing a 2.6 percent rise in April. This was the worst drop since April last year, when output fell 5.0 percent.

Production declined the most in the mining and quarrying industry, by 37.5 percent annually in May. Output in the electrical and electronics industry fell by 8.5 percent.

Meanwhile, production in electricity, gas steam and air conditioning supply grew by 2.6 percent.

On a year-on-year basis, industrial production fell a working day and seasonally adjusted 0.3 percent in May, after a 7.0 percent rise in the preceding month.

Separate data from Statistics Finland showed that the manufacturing new orders rose 3.4 percent annually in May, after a 0.9 percent growth in April.

During the January to May period, new orders grew by 2.3 percent.

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