RTTNews - Friday, a report from Statistics Finland said industrial output dropped a working day adjusted 23.2% year-on-year in May, faster than a 21.3% fall in the previous month.

In May, output declined in all major industries, with metal output showing the steepest drop of 28.3%. this was followed by the forest industry, where output fell 27.6%. Double digit declines were also seen for the chemical industry, utilities, as also the electrical and electronics industry.

Capacity utilization in the manufacturing sector was 67.3% in May, about 18.4 percentage points below the rate seen last year.

In the first five months of the year, industrial output slipped around 22% from the corresponding period last year.

Separately, the statistical office said new orders in the manufacturing sector dipped 39.6% year-on-year in May, after contracting 40.2% in April.

New orders fell the most in the metal industry, by 47.5%, followed by a 30.7% drop in the chemicals industry. Orders also fell in double digits in the textile industry and in the manufacture of paper and its products.

In the January-May period, new orders were down 38.9% compared to last year.

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