30 September, 1998

Inquiries: Mr Erkki Lääkäri + 358 9 1734 3355
Statistical Director in charge: Mr Markku Suur-Kujala

Growth in output continued in July

Total output increased by 5.5 per cent in the year to July. Growth in output was slightly faster than in June when output grew by 4.1 per cent on the previous year. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main branches of industry. Growth in output was especially accelerated by an almost 44 per cent rise in the manufacture of electrical equipment. Economic growth was further sustained by domestic demand, particularly by output increases in forestry, trade and transportation.

Output in all manufacturing as calculated per working day grew by 8.2 per cent in the year to July. Output in agriculture and forestry rose by 10.2 per cent due to increases in loggings. Output in trade went up by 7.7 per cent and in transportation by 5.2 per cent. Output in construction was up by 3 per cent on the previous year. Other services and government services increased by 1.7 per cent.

The Monthly Indicator of Total Output is based on eleven monthly series on different sectors of the economy. The series are summed up by weighting.

Source: The Monthly Indicator of Total Output, July 1998. Statistics Finland