29 January, 1999

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

Output grew by 4.7 per cent in November

Total output increased by 4.7 per cent in the year to November 1998. Growth accelerated slightly from October, when the rate of growth on the previous year was 4.2 per cent. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main branches of industry.

Output in agriculture and forestry was boosted by commercial fellings which increased by good 8 per cent in the year to November. As in the preceding months, growth in manufacturing continued to be sustained by the manufacture of electrical equipment, which increased by 52 per cent. Total economic growth also continued to be supported by output increases in construction, trade and transportation.

In the year to November 1998, output in construction went up by 10 per cent, in trade by 9 per cent, in transportation by 6 per cent and in agriculture and forestry by 4,8 per cent, while output in all manufacturing as calculated per working day grew by 4.3 per cent. Other services and government services grew 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 1998, November. Statistics Finland.