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Published: 13 February 2009

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

According to Statistics Finland, the value of new orders in manufacturing was 30.7 per cent lower in December 2008 than in December 2007. Looking at the whole of 2008, new orders diminished by 8.3 per cent from 2007.

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

The exceptionally weak development in the value of new orders in manufacturing that started in September 2008 continued through December. As in the previous months, the decline in new orders was strongest in the metal industry, where it amounted to 34.4 per cent. In the chemical industry, new orders fell by 29.3 per cent, and in the manufacture of pulp, paper and paper products by 19.4 per cent. By contrast, in the textile industry new orders increased by 4.3 per cent. However, these statistics typically show strong fluctuations as new orders are not examined over extended time periods but for the statistical reference month only.

Change in new orders in manufacturing 12/2007-12/2008

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.

The revised standard industrial classification, TOL 2008 will be introduced in these statistics starting from data concerning January 2009. Further information about the TOL 2008 classification is available in the TOL 2008 section on Statistics Finland’s website. Further information about the transition of the statistics on new orders in manufacturing to standard industrial classification TOL 2008 is available under Revisions in these statistics .

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

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

Director in charge: Hannele Orjala

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Updated 13.2.2009