30 September, 1999
Inquiries: Mr Erkki Lääkäri +358 9 1734 3355
Director in charge: Mr Markku Suur-Kujala
Growth of output continued in July
The volume of total output grew by 2.6 per cent in the year to July. In June, total output was up by 3.6 per cent from the year before. The Monthly Indicator of Total Output of Statistics Finland indicates that output grew in all main industries of the national economy in July, except for agriculture and forestry.
Growth in the production of electrical equipment continued to boost manufacturing, although it was slower than in the early part of the year. The production of electrical equipment grew by 19 per cent in the year to July, while the corresponding growth was 42 per cent in the first half of the year. Output in manufacturing as calculated per working day increased by 3.9 per cent. The total growth of the economy was also bolstered by the increased production of construction, trade and transport. Output in agriculture and forestry declined by 6.5 per cent, primarily due to commercial fellings.
Output in construction grew by 7 per cent from July 1998. Output in trade went up by 3.1 per cent and in transport by 2.4 per cent. Other services and government services grew by 1.6 per cent.
The Monthly Indicator of Total Output is based on twelve monthly series on different sectors of the economy. The series are summed up by weighting.
Source: Monthly Indicator of Total Output 1999, July. Statistics Finland