Total output went up in December

According to the seasonally adjusted series of the Monthly Indicator of Total Output calculated by Statistics Finland, the volume of total output went up by 0.4 per cent in December 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 2.1 per cent higher than in December 2005

The volume of total output grew by 2.1 per cent in December 2006 from December of the previous year. December 2006 had two fewer working days than the corresponding month of the year before. Adjusted for working days, total output grew by 3.8 per cent year-on-year. Among the six main industries of the Monthly Indicator of Total Output, decline in output was only recorded in primary production.

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

According to the original series, industrial output went up by 1.3 per cent from December 2005. Output volumes in the whole metal industry grew by 2 per cent but production in its sub-industry of manufacture of electrical and electronic equipment fell by 7 per cent. Output volumes in other manufacturing went up by 2 per cent. In the wood and paper industry output declined by one per cent from December 2005. In energy supply, output remained on level with the previous year's corresponding month.

Sales volumes of trade went up by 4 per cent. Motor vehicle sales went up by 7 per cent, and wholesale and retail trade both increased by 3 per cent.

In construction and in other service industries output grew by 3 per cent. Transport stayed on level with the previous year. Primary production decreased by 16 per cent and the volume of fellings was 23 per cent down on December 2005.

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, December. 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 15.2.2007

Referencing instructions:

Official Statistics of Finland (OSF): Trend Indicator of Output [e-publication].
ISSN=1798-5439. December 2006. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ktkk/2006/12/ktkk_2006_12_2007-02-15_tie_001_en.html