15 April, 1998

Inquiries: Mr Kari Rautio + 358 9 1734 2479
Statistical Director in charge: Mr Ilkka Hyppönen

Industrial output grew by 8.8 per cent in February

The growth rate of Finnish industrial output continues to be fast by international comparison. According to Statistics Finland's index per working day, industrial output increased by 8.8 per cent in the year to February.

Increase in output is still fastest in the export sectors. Output in the metal industry grew by almost 14 per cent in February. Of the main sectors of the metal industry, the biggest output increases were recorded in the manufacture of electrical equipment, up by almost 32 per cent, and transport equipment, up by close on 14 per cent. In the wood and paper industry, output increased by nearly 10 per cent in February. The manufacture of pulp, paper and paper products grew by good 11 per cent, while the increase in the manufacture of wood and wood products was just under 4 per cent.

Other sectors of the manufacturing industry, i.e. sectors producing goods primarily for the domestic market, continued to grow steadily. Their output increased by good 3 per cent in February. Output in the chemical industry grew by almost 5 per cent. 14 per cent more investment goods and over 11 per cent more durable consumer goods were produced in February compared to February 1997. Output of raw materials and output commodities also grew by almost 10 per cent.

Nearly 87 per cent of the manufacturing capacity was in use in February. Capacity utilisation rate in the pulp and paper industry was good 95 per cent, in the metal industry almost 88 per cent and in the chemical industry nearly 82 per cent.

In January, the revised growth rate in industrial output was 0.1 percentage points below previously published figures. The revised growth rate of the index per working day was 7.9 per cent in the year to January.

Source: Volume Index of Industrial Output, February 1998. Statistics Finland