22 June 2004
Inquiries: Mr Arto Kokkinen +358 9 1734 3355
Director in charge: Mr Ari Tyrkkö
GDP in April of the same magnitude as in March
According to the seasonally adjusted series of the Monthly Indicator of GDP calculated by Statistics Finland, the volume of GDP was in April of the same magnitude as in March. However, with the April data the trend of GDP indicates a growth direction for the economy.
Volume of GDP in 1995-2004, trend and seasonally adjusted series
The series of the Monthly Indicator of GDP are seasonally adjusted with the Tramo/Seats method. The series adjusted for seasonal and random variation (seasonally adjusted and trend series) become revised with new observations in seasonal adjustment methods.
GDP grew by 1.7 per cent from April 2003
GDP increased by 1.7 per cent in April 2004 compared with April 2003. Of the main industries of the monthly indicator, construction, trade, transport and other services grew. Primary production declined. Industrial output diminished fractionally from last year's April. This year's April contained the same number of working days as April 2003.
Percentage changes of GDP from the previous year's corresponding month
Sale volumes of trade grew by as much as 10 per cent from April 2003. Sales of motor vehicles increased by 20 per cent, and wholesale and retail trade both by 8 per cent.
The volumes of industrial output were fractionally, or 0.5 per cent, lower than in April 2003. The manufacture of electronic and electrical equipment declined by 2 per cent, but output volumes in the whole metal industry were of the same magnitude as in April 2003. Output in the wood and paper industry grew by 3 per cent. Output volumes in other manufacturing reached those of April 2003. Energy supply decreased by 4 per cent.
The volume of primary production fell by 5 per cent from April 2003. The volume of fellings decreased by 9 per cent. Milk production went up and meat production down by one per cent.
Transport livened up by one per cent. Construction increased by 2 per cent. Output in other service industries was 2 per cent higher than in April 2003.
The Monthly Indicator of GDP is based on twelve monthly series on different industries of the economy. The series are summed up by weighting. The purpose of the Monthly Indicator is to anticipate the development of the volume of the quarterly gross domestic product calculated later with more detailed data.
Source: Monthly Indicator of GDP 2004, April. Statistics Finland