27 November, 1998

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

Growth in output continued in September

Total output increased by 5.1 per cent in the year to September. Growth accelerated slightly from August when the rate of growth on the previous year was 4.4 per cent. The Monthly Indicator of Total Output of Statistics Finland shows that output grew in all main branches of industry with the exception of agriculture and forestry.

As in August, output in agriculture and forestry continued to decline in September due to the poor grain crop. According to preliminary estimates, the crop was one third smaller than the year before. Growth in manufacturing continued to be sustained by the manufacture of electrical equipment, which increased by as much as 49 per cent in the year to September. Total economic growth was again supported by domestic demand, especially output increases in trade and transportation.

In the year to September, output in all manufacturing as calculated per working day grew by 8.5 per cent. Output in transportation went up by 5.6 per cent, in trade by 5.3 per cent and in construction by 2.0 per cent. Other services and government services grew by 1.7 per cent, whereas output in agriculture and forestry fell by 3.5 per cent due to the poor grain crop.

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 1998, September. Statistics Finland.