Strong growth in industrial output continued in October

Industrial output was 6.8 per cent higher in October than in October of the year before, the index per working day of Statistics Finland indicates. This was partly due to an increase of about one fifth in energy supply. Energy exports to Sweden have increased while, at the same time, imports have been replaced by domestic production. In the January-October period industrial output grew by 3 per cent on the year before.

Output in the metal industry was up by close on 7 per cent in the year to October. Output grew in all main sectors of the metal industry except in the manufacture of transport equipment. The manufacture of machinery and equipment increased most, by just under 12 per cent.

In the wood and paper industry output increased by just under 7 per cent. The manufacture of pulp, paper and paper products grew by over 7 per cent, as against a mere 3 per cent in September. The high growth figure was partly due to the fall in output in the paper industry during the comparison period, i.e. in the autumn of 1995. Output in the mechanical wood industry grew by a good 5 per cent in October.

In the chemical industry output grew by about 5 per cent in October. Output in other manufacturing increased by 3.5 per cent on the previous year.

Output of investment goods was nearly 10 per cent greater than in October of last year. The output of consumer goods was also up; the increase was a good 3 per cent on the year before.

The capacity utilisation rate in manufacturing was a good 87 per cent in October, being about one percentage point more than a year earlier.

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