30 July, 1999
Inquiries: Mr Erkki Lääkäri + 358 9 1734 3355
Director in charge: Mr Markku Suur-Kujala
Growth in output continued through May
Total output increased by 2.4 per cent in the year to May. In April, output increased by 3.6 per cent. The Monthly Indicator of Total Output of Statistics Finland shows that output grew in all main industries of the national economy in May.
Output in agriculture and forestry grew by 2.7 per cent in May, mainly due to commercial fellings. Manufacturing output also continued to grow thanks to the production of electrical equipment. However, output in manufacturing as calculated per working day increased by only 1.9 per cent, although the production of electrical equipment increased by nearly 16 per cent.
Total economic growth in May was also supported by domestic demand, particularly increases in construction, trade sales and transport. In construction, output increased by 5.8 per cent and in transport by 4.1 per cent, while output in trade went up by 3.3 per cent. In other services and government services, output went up by 1.6 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 1999, May. Statistics Finland.