Home > Statistics > Volume index of industrial output > 2008 > May > Industrial output increased by 4.2 per cent year-on-year in May

Published: 30 June 2008

Industrial output increased by 4.2 per cent year-on-year in May

According to Statistics Finland, industrial output adjusted for working days was 4.2 per cent higher in May 2008 than twelve months earlier. Output increased by 12.5 per cent in the manufacture of electrical and electronic products, and by 10.4 per cent in the metal industry in May. In the chemical industry, output grew by 6.4 per cent. Exclusive of the manufacture of electronic and electrical products, output in manufacturing only grew by 2.1 per cent. Output declined most, by 6 per cent, in the wood and paper industry.

 

Working day adjusted change in industrial output by industry 5/2007-5/2008, %

 

Seasonally adjusted change in industrial output from previous month, %

 

Working day adjusted change in industrial output from corresponding month of previous year, %

Where appropriate, the use of value data has been increased again in early 2008. This has made it possible to widen the coverage of services produced by manufacturing enterprises in the statistics. Besides so-called industrial services (repair, maintenance and installation), these may also comprise other services, such as research and development services, administrative services, royalties and licences, as well as merchanting services. The measures have also improved the coverage of the sample-based monthly index. In some months certain data on the manufacture of electronic and electrical products are not available sufficiently early. Estimation is used for this industry in a number of months, so revisions to the data may be more extensive than normal.

Starting from the January release on industrial output, Statistics Finland has used annual change percentages which are based on working day adjusted data instead of seasonally adjusted data. This revision is based on the latest international recommendations. The seasonally adjusted point figures and change percentages used before, as well as all previously released data, can still be found on Statistics Finland's website.

Revised data for May 2008 will be published at 9 am on 31 July 2008 in connection with the industrial output data for June 2008.

 

Source: Volume Index of Industrial Output 2008, May. Statistics Finland

Inquiries: Mr Kari Rautio +358 9 1734 2479,volyymi.indeksi@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 30.6.2008