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Finland Industrial Production Rises For Second Month; Orders Jump

Finland's industrial production rose for a second straight month in July and factory orders surged annually, but the pace of growth slowed, preliminary figures from Statistics Finland showed on Tuesday.

Industrial production grew a seasonally adjusted 0.5 percent from June, when it grew 1.2 percent. Production decreased 2.6 percent in May.

Manufacturing rose 0.8 percent in July. Output rose 12.6 percent in the mining and quarrying industry and grew 3 percent in the forest industry.

Production rose 2.2 percent in the metal industry and 1.2 percent in the electrical and electronics sector.

In contrast, output fell in the chemical and food industries, and in the utilities sector.

On a working-day adjusted basis, industrial output rose 3.8 percent year-on-year in July and grew 2.1 percent in the January to July period.

Separately, the statistical office reported that manufacturing orders jumped 18.1 percent year-on-year in July after a 4.6 percent drop in June. The increase was the biggest since October last year, when orders climbed 21.9 percent.

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