15 April, 1999

Inquiries: Mr Rami Peltola +358 9 1734 3615, Mr Kari Rautio +358 9 1734 2479
Director in charge: Mr Ilkka Hyppönen

Industrial output up by 5.1 per cent in February

According to Statistics Finland, industrial output as calculated per working day grew by 5.1 per cent in the year to February. In January, industrial output was up by 7.6 per cent on January 1998. The growth continued to be attributable to the electrical industry where output increased by 47 per cent in February. In January, output in the electrical industry grew by 54 per cent compared to the year before.

Output in the forest industry decreased by nearly 3 per cent this February compared to last year's February. In January, output in the forest industry contracted by under one per cent.

In the metal industry, output grew by good 16 per cent this February compared to last year's February. In January, output in the metal industry increased by good 20 per cent. The growth in the metal industry was dependent on electrical products. In contrast, the manufacture of transport equipment decreased by good 4 per cent. The output of basic metals and metal products declined by under one per cent. Output in the chemical industry contracted by 4 per cent in the year to February.

Because of the cold weather, February output in mining and quarrying was down by nearly 5 per cent on last year's February. Output in energy and water supply grew by just half a per cent, whereas a large increase took place in energy imports.

February capacity utilisation rate in manufacturing was 85 per cent, which is nearly 2 percentage points lower than in February 1998. In the pulp and paper industry, 91 per cent of the capacity was in use, while the capacity utilisation rates in the metal industry and chemical industry were 88 per cent and 73 per cent, respectively. The rate in the pulp and paper industry was down by good 4 per cent on February 1998.

Source: Volume Index of Industrial Output 1999, February. Statistics Finland