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Published: 15 May 2007

Total output increased in March

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 0.3 per cent in March from the month before.

Volume of total output 2000 - 2007, 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 0.7 per cent higher than in March 2006

In March 2007, the volume of total output grew by 0.7 per cent from March of the previous year. Among the six main industries of the Monthly Indicator of Total Output, decline in output was only recorded in manufacturing. March 2007 contained one working day less than the corresponding month of the year before. Adjusted for working days, total output grew by 1.9 per cent year-on-year.

 

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

According to the original series, industrial output diminished by 2.7 per cent from March 2006. In the whole metal industry, and in its sub-industry of manufacture of electronic and electrical products, output volumes fell by 5 per cent. Production in the wood and paper industry was up by one per cent on March 2006.

Sales volumes of trade went up by 4 per cent. Sales of motor vehicles grew by 9 per cent and retail trade by 10 per cent. Wholesale trade contracted by one per cent.

Construction output grew by 7 per cent. Production in other services and primary production both grew by 2 per cent from March 2006. In transport, output remained on level with the previous year's corresponding month.

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 2007, March. 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 15.5.2007