Strong growth in industrial output continues in July

According to the index per working day of Statistics Finland, industrial output grew by 8.2 per cent in the January to July period compared to the corresponding period of last year. Output was up in nearly all main sectors of the manufacturing industry.

The greatest increase in the January to July period was in the production of furniture, almost 20 per cent on the January to July 1996 period. Growth was also significant in the manufacture of electrical equipment and instruments, up by 17 per cent. In the chemical forest industry output increased by 16 per cent, as did that of glass, clay and stone products. The manufacture of wood and wood products was up by 14 per cent. The only sectors that saw a decline were the production of clothing, leather products and footwear as well as the manufacture of transport equipment.

In July industrial output was 13.8 per cent higher than in July of 1996 according to the index per working day. The exceptionally strong growth is, however, due in part to the timing of summer holidays and maintenance stoppages. More detailed information on the output of the whole summer will be available in October.

In July a good 76 per cent of the capacity in manufacturing was in use. The utilisation rate in the metal industry was 74 per cent, that in the wood and paper industry 89, in the chemical industry 71 per cent and the rest of manufacturing 66 per cent.

Source: Volume Index of Industrial Output, July 1997. Statistics Finland
Further information: Mr. Kari Rautio, tel. 358 9 1734 2479