26 February, 1999

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

Growth in output slowed down in December

Total output increased by 1.7 per cent in the year to December 1998. Growth slowed down clearly from November, when output grew at the rate of 4.7 per cent. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main branches of industry.

Total economic growth was supported by domestic demand, particularly an increase in the output of trade.

In the year to December 1998, output in trade went up by 7.1 per cent. Output grew by two per cent in both construction and agriculture and forestry. Other services and government services increased by 1.7 per cent and transportation by almost one per cent from the previous year. Output in all manufacturing as calculated per working day grew by 0.1 per cent. In manufacturing, output went up in the manufacture of electrical equipment, which increased by 37 per cent in the year to December 1998.

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, December. Statistics Finland.