Industrial output up by 11.8 per cent in May

The rate of the growth in industrial output intensified in May. According to Statistics Finland's index per working day, industrial output went up by 11.8 per cent in the year to May.

Industrial output grew fastest in the metal industry and in the wood and paper industry in May. Output in the metal industry increased by good 18 per cent in the year to May. Of the main sectors of the metal industry, output grew most - good 47 per cent - in the manufacture of electrical equipment. In the wood and paper industry, output went up by good 11 per cent. The manufacture of wood and wood products increased by just under 11 per cent and that of pulp, paper and paper products by 11.5 per cent.

Output in the chemical industry increased by 7.5 per cent in the year to May. Output grew by 6.5 per cent in other manufacturing industry producing goods primarily for the domestic market.

Good 21 per cent more investment goods and 9.5 per cent more durable consumer goods were produced this May compared to May last year. There was a 10.5 per cent increase in the production of raw materials and output commodities.

Good 91 per cent of the manufacturing capacity was in use in May, which is nearly 3 percentage points up on the previous year. Almost full capacity was reached in the pulp and paper industry. The capacity rate was just short of 93 per cent in the metal industry and good 81 per cent in the chemical industry.

During the January to May period, industrial output grew by 9.7 per cent compared to the same period last year. Growth was fastest in the metal industry where output increased by 15.5 per cent. Output in the wood and paper industry grew by 10 per cent.

In April, the revised growth rate in industrial output as calculated per working day was 10.4 per cent, which is 0.1 percentage points below the previously published figure.

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