Home > Statistics > Index of turnover in industry > 2008 > December > Turnover in manufacturing contracted by 3.8 per cent in October to December from the year before

Published: 13 March 2009

Turnover in manufacturing contracted by 3.8 per cent in October to December from the year before

According to Statistics Finland, turnover in manufacturing in the October to December period was 3.8 per cent lower than in the corresponding period of the year before. Domestic sales contracted by 3.8 per cent and export turnover by 3.7 per cent from one year ago.

In October to December, turnover grew in energy and water supply (17.6%), manufacture of machinery and equipment (7.4%), food industry (7.3%) and manufacture of fabricated metal products (3.4%). In other industries turnover contracted in the last quarter of the year. Turnover fell most in the manufacture of basic metals where it was 28.6 per cent lower than in the last quarter of the year before.

Annual change in turnover in all manufacturing and in selected manufacturing industries during 10/2008-12/2008, %

The index of turnover in industry describes enterprises whose main industry is manufacturing. The calculation of the indices is based on the Tax Administration's value added tax data which are supplemented with data obtained with Statistics Finland's sales inquiry. The monthly turnovers of manufacturing enterprises can vary considerably, especially in the metal industries. The variation is mainly due to invoicing practices. The final invoice for major machinery deliveries and projects may be recorded in the sales of one month, even if the delivery had required the work of several months or years.

Standard industrial classification TOL 2008 and base year 2005=100 are introduced in these statistics starting from data concerning January 2009. For further information about the TOL 2008 classification see theTOL 2008 section on Statistics Finland's website. A news item about the adoption of TOL 2008 in statistics describing turnover in industry is posted on the home page of these statistics.

Source: Index of turnover in industry, December 2008. Statistics Finland

Inquiries: Mr Matti Paavonen +358 9 1734 3331, Ms Soile Väisänen +358 9 1734 2232,volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Last updated 13.3.2009