Growth in industrial output gained momentum in March

Industrial output grew by 8.8 per cent in the year to March, the index per working day of Statistics Finland indicates. In February output increased by 7.1 per cent. The strong growth in output was sustained by the metal industry and the wood and paper industry.

In the metal industry output was up by a good 10 per cent in the year to March. There was a clear increase in output in all main sectors of the metal industry with the exception of the manufacture of transport equipment. The highest increase in output was in the manufacture of electrical products, up by over 14 per cent, and in the manufacture of machinery and equipment, up by a good 13 per cent.

Output in the wood and paper industry grew by close on 16 per cent in March. The production of pulp and paper increased by nearly 17 per cent in February, which was partly due to the low level of output during the comparison period , i.e. in March 1996. Output of wood products was a good 13 per cent greater than in March of 1996. Output in the building materials industry, in turn, was up by over 19 per cent. The production of furniture also grew; the increase was as much as 25 per cent on the year before.

Output in the chemical industry grew by just under 4 per cent in March, and that in other manufacturing by over 6 per cent.

In March close on 86 per cent of the capacity in manufacturing was in use. In the metal industry the utilisation rate was over 87 per cent, in the wood and paper industry 92, in the chemical industry close on 80 and in other manufacturing a good 77 per cent.

In the January-March period industrial output increased by 8 per cent. Output in the metal industry grew by over 8 per cent and that of the wood and paper industry by a good 15 per cent on the January-March period of 1996.

Source: Volume Index of Industrial Output, March 1997
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