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Published: 15 November 2005

GDP on the increase in September

According to the seasonally adjusted series of the Monthly Indicator of GDP calculated by Statistics Finland, the volume of GDP went up by 0.8 per cent in September from the month before. The trend of GDP also indicates growth for the economy.

Volume of GDP 2000 - 2005, trend and seasonally adjusted series

The series of the Monthly Indicator of GDP are seasonally adjusted with the Tramo/Seats method. The latest observations of the series adjusted for seasonal and random variation (seasonally adjusted and trend series) become revised with new observations in seasonal adjustment methods.

GDP went up by 1.9 per cent from September 2004

The volume of GDP went up by 1.9 per cent in September 2005 from September of the previous year. Among the six industries of the Monthly Indicator, output only declined slightly in manufacturing. September 2005 had the same number of working days as the corresponding month of the year before.

Percentage changes of GDP from the previous year's corresponding month

According to the original series, industrial output fell by 0.9 per cent from September 2004. Output declined by one per cent in the wood and paper industry and by 21 per cent in energy supply. The output volumes of the whole metal industry remained on level with the corresponding month of the year before but production in its sub-industry of manufacture of electrical and electronic equipment declined by 4 per cent. In other manufacturing, output volumes fell by 3 per cent.

Sales volumes of trade increased by 5 per cent. Motor vehicle sales grew by 4 per cent, wholesale trade by 5 per cent and retail trade by 7 per cent.

Primary production went up by one per cent form September 2004. Transport increased by 4 per cent. Output grew by just under 3 per cent in both other service industries and in construction from September 2004.

The Monthly Indicator of GDP is based on twelve monthly series on different industries of the economy. The series are summed by weighting. The purpose of the Monthly Indicator is to anticipate the development of the quarterly gross domestic product calculated later with more detailed data.

GDP grew in the third quarter

Estimates indicate that adjusted for seasonal variation and calendar days (working and trading days) the volume of GDP grew by 1.9 per cent in the third quarter from the quarter before. Examined against original figures on output volumes, the growth from the same quarter twelve months back was 1.7 per cent.

Quarterly national accounts with more precise data on GDP will be published on 9 December 2005. The next Flash Estimate of GDP on Quarter will be published on 14 February 2006.

Source: Monthly Indicator of GDP 2005, September. Statistics Finland

Inquiries: Mr Veli-Pekka Karvinen +358 9 1734 2667, kansantalous.suhdanteet@stat.fi

Director in charge: Mr Ari Tyrkkö

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Last updated 15.11.2005