14 July, 2000
Inquiries: Mr Rami Peltola +358 9 1734 3615, Mr Kari
Rautio +358 9 1734 2479
Director in charge: Mr Ilkka Hyppönen
Industrial output grew by as much as 12.4 per cent from previous year in May
According to Statistics Finland, Finnish industrial output as calculated per working day went up by 12.4 per cent in the year to May. Driven by exports, growth in Finnish industrial output continued strong.
Output in the paper industry went up by 9 per cent in May, having contracted by as much as 20 per cent in April because of a strike.
Output in the wood and paper industry went up by 7.8 per cent in the year to May. In the metal industry, output increased by close on 23 per cent. Output was on the increase in all main branches of the metal industry in May, with the manufacture of electrical equipment recording a particularly strong growth rate of good 47 per cent. In the rest of the metal industry, too, output increased by good 3 per cent in May.
In the chemical industry, output went up by nearly 6 per cent in May. Output in other manufacturing grew by 0.4 per cent. The growth was partly attributable to a close on 6 per cent growth in the output of foodstuffs and beverages.
Finnish industry is running at full capacity. Capacity utilisation rate in manufacturing was nearly 91 per cent in May. In the pulp and paper industry, capacity utilisation rate was full 99 per cent, in the metal industry nearly 92 per cent, in the chemical industry close on 83 per cent and in other manufacturing 83 per cent.
In the year to May, Finnish industrial output grew by 12.4 per cent (seasonally adjusted). According to the OECD's seasonally adjusted series, output in the United States was up by 5.8 per cent on the year before. The respective growth figures for Japan and Germany were 7.3 per cent and 8.7 per cent.
Source: Volume Index of Industrial Output 2000, May. Statistics Finland