Industrial output grew by a full 6.1 per cent in September

Industrial output grew by 6.1 per cent in the year to September, the biggest increase in over 12 months, as indicated by the index per working day of Statistics Finland.

The acceleration in the growth rate was partly attributable to the growth in energy production. Growth in energy supply amounted to as much as 17.2 per cent in September. Imported electricity was replaced by domestic energy and the exports of electricity also saw a clear increase on the September of 1995. Due to improved weather conditions, there was also a concentrated production of peat in September.

The downturn in the paper industry, sustained since the autumn of 1995 seems to have come to an end. Production in this industry grew by 2.6 per cent from September 1995. The recovery in the construction industry increased production inter alia in the manufacture of building materials and furniture.

Output per working day in the metal industry increased by 6.2 per cent on the year before. Growth was particularly fast in the manufacture of machinery and equipment, up by 11.5 per cent. Of all the main sectors in the metal industry, only the manufacture of means of transport saw a decline.

Output in the wood and paper industry grew by 3.1 per cent in September. The manufacture of pulp, paper and paper products increased by 2.6 per cent, as did the output of the mechanical wood industry, by 4.1 per cent.

Output in other manufacturing was up by 5.1 per cent on the year before.

There was an 8.5 per cent increase in the output of investment goods compared to the year before. Output of consumer goods also grew by nearly 5 per cent on the September of 1995.

Despite the rapid growth rate, the utilisation rates of manufacturing did not rise to the level of the year before. Of the capacity in manufacturing a good 85 per cent was utilised in September, which was just under 2 percentage points less than the year before. In the metal industry, the utilisation rate was over 89 per cent, 2.5 percentage points down on the previous year.

In the wood and paper industry, the utilisation rate was a full 88 per cent, which was just under 4 percentage points lower than a year ago. In other manufacturing, the capacity utilisation rate was over 79 per cent in September, nearly one percentage point up on a year earlier.

In the January-September period industrial output grew by 2.5 per cent. The volume index of industrial output (1990=100) was 129.8 in September.

Source: Volume Index of Industrial Output, September 1996
Further information: Mr. Kari Rautio, tel. +358 9 1734 2479