New orders in manufacturing fell by one-third year-on-year in November 2008

According to Statistics Finland, the value of new orders in manufacturing was 33.7 per cent lower in November 2008 than in November 2007. In the January to November period, new orders in manufacturing decreased by 5.7 per cent year-on-year.

Change in new orders in manufacturing from corresponding month of the previous year (original series), %

The weakening of the trend situation in manufacturing, which started in spring 2008, is evident as a decline in orders in all the examined main industries. The decline in new orders was particularly strong in the metal industry, where it amounted to 43.6 per cent. In the textile industry new orders fell by 19.2 per cent, in the manufacture of pulp, paper and paper products by 17.6 per cent and in the chemical industry by 13.9 per cent.

When interpreting these statistics it should, however, be borne in mind that orders in manufacturing typically show strong monthly fluctuations. Even new orders of substantial value are not examined over extended time periods but for the statistical reference month only.

Change in new orders in manufacturing 11/2007-11/2008

The index of new orders in manufacturing describes development in the value of new orders received by enterprises for commodities and services that are meant to be produced by establishments located in Finland. These statistics are based on non-probability sampling, in which the basic observation unit is an enterprise or a kind-of-activity unit. The sample comprises monthly approximately 400 to 430 enterprises or their kind-of-activity units. Index point figures and annual change percentages are published monthly for five industry categories. The time series start from January 2005 and their base year is 2005 (2005=100). A detailed description of the statistics and the calculation method are included in the quality description on the home page of the statistics.

Source: New orders in manufacturing 2008, November. Statistics Finland

Inquiries: Jukka Appelqvist (09) 1734 3391, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

Updated 9.1.2009

Referencing instructions:

Statistics: New orders in manufacturing [e-publication].
ISSN=1798-6737. November 2008. Helsinki: Statistics Finland [referred: 22.12.2024].
Access method: http://www.stat.fi/til/teul/2008/11/teul_2008_11_2009-01-09_tie_001_en.html