Home > Statistics > Index of turnover in industry > 2010 > February > Turnover in manufacturing contracted by 2 per cent in December to February from the year before

Published: 14 May 2010

Turnover in manufacturing contracted by 2 per cent in December to February from the year before

According to Statistics Finland, turnover in manufacturing in the December to February period was 2.0 per cent lower than in the corresponding period of the year before. Domestic sales contracted by 4.1 per cent and export turnover contracted by 0.1 per cent from one year ago.

Annual change in turnover in selected manufacturing industries during 12/2009-02/2010, % (TOL 2008)

The sub-industries of manufacturing were evenly divided into both contracted and grown ones. Turnover contracted most in the metal industry (-7.9%) and in the food industry (-3.3%). The strongest growths were recorded in electricity, gas, steam and air conditioning supply (25.3%), in the chemical industry (16.0%) and in mining and quarrying (15.5%).

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.

Tax account reform causes revisions to the data of turnover indices

Starting from data on January 2010, the turnover indices will be compiled from data on the periodic tax returns allowed in the Tax Administration's tax account reform. According to our analysis the impact on these statistics from the implemented tax account reform will remain quite minor. However, slightly less data than before will be available for January 2010, which may mean that the January time series of the turnover indices become slightly revised in future releases. Further information about the impacts of the changes in the data on the turnover indices can be found under Revisions in these statistics . Information about the tax account reform is also available on the Tax Administration's website at: www.vero.fi .

Source: Index of turnover in industry 2010, February, Statistics Finland

Inquiries: Ulla Virtanen (09) 1734 3331, Kirsi-Maaria Kinnunen (09) 1734 2681, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Appendix tables

• Three-month moving change and change in the latest month, year-on-year, % (TOL 2008) (14.5.2010)

Figures

• Trend series on total turnover, domestic turnover and export turnover in manufacturing 1/1995-02/2010 (14.5.2010)
• Trend series on total turnover, domestic turnover and export turnover in the forest industry 1/1995-02/2010 (14.5.2010)
• Trend series on total turnover, domestic turnover and export turnover in the chemical industry 1/1995-02/2010 (14.5.2010)
• Trend series on total turnover, domestic turnover and export turnover in the electronic and electrical industry 1/1995-02/2010 (14.5.2010)

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Updated 14.5.2010