Total output fell in October

According to the seasonally adjusted series of the Monthly Indicator of Total Output calculated by Statistics Finland, the volume of total output fell by 0.7 per cent in October from the month before.

Volume of total output 2000 - 2006, trend and seasonally adjusted series

The series of the Monthly Indicator of Total Output 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.

Total output was 3.3 per cent higher than in October 2005

The volume of total output grew by 3.3 per cent in October 2006 from October of the previous year. Among the six main industries of the Monthly Indicator of Total Output decline in output was only recorded in primary production. October 2006 had one working day more than the corresponding month of the previous year. Adjusted for working days, the growth in the volume of total output amounted to 2.4 per cent.

Percentage changes of total output from the previous year's corresponding month

According to the original series, industrial output went up by 1.2 per cent from October 2005. In the whole metal industry the volumes of output fell by 5 per cent and production in its sub-industry of manufacture of electronic and electrical products declined by 18 per cent. Energy supply grew by 23 per cent while output volumes in other manufacturing went up by 5 per cent. Production in the wood and paper industry was up by one per cent on October 2005.

Sales volumes of trade went up by 6 per cent. Motor vehicle sales grew by 8 per cent, wholesale trade by 7 per cent and retail trade by 4 per cent.

Transport increased by 6 per cent and construction by 4 per cent while output in other services industries grew by 3 per cent. In primary production output fell by 5 per cent from the corresponding month of the previous year.

The Monthly Indicator of Total Output is based on twelve monthly series on different industries of the economy. The series are summed up by weighting.

The methods for fixed price calculations in National Accounts were revised in spring 2006. Output at current prices and intermediate consumption are now deflated separately and value added at fixed prices is derived as the difference of these figures. At the same time, the fixed base year was replaced with a varying one. The method for calculating the Monthly Indicator of Total Output was kept unchanged, so it describes development of output rather than that of value added in the revised National Accounts.

Source: Monthly Indicator of Total Output 2006, October. 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 20.12.2006

Referencing instructions:

Official Statistics of Finland (OSF): Trend Indicator of Output [e-publication].
ISSN=1798-5439. October 2006. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ktkk/2006/10/ktkk_2006_10_2006-12-20_tie_001_en.html