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Published: 20 October 2006

Total output fell in August

According to the seasonally adjusted series of the Monthly Indicator of Total Output calculated by Statistics Finland, the volume of total output fell by 0.7 per cent in August from the month before.

Volume of total output 2000 - 2006, trend and seasonally adjusted series

The series of the Monthly Indicator of Total Output are seasonally adjusted with the Tramo/Seats method. The latest observations of the series adjusted for seasonal and random variation (seasonally adjusted and trend series) become revised with new observations in seasonal adjustment methods.

Total output was 4.3 per cent higher than in August 2005

The volume of total output grew by 4.3 per cent in August 2006 from August of the previous year. Among the six main industries of the Monthly Indicator of Total Output decline in output was only recorded in primary production.

Percentage changes of total output from the previous year's corresponding month

According to the original series, industrial output went up by 7.6 per cent from August 2005. Output volumes in the whole metal industry grew by 11 per cent and production in its sub-industry of manufacture of electrical and electronic equipment went up by 12 per cent. Energy supply grew by 24 per cent while output volumes in other manufacturing went up by 2 per cent. In the wood and paper industry output declined by 2 per cent from August 2005.

Sales volumes of trade increased by 7 per cent. Motor vehicle sales went up by 7 per cent, wholesale trade by 9 per cent and retail trade by 5 per cent.

Transport grew by 5 per cent. Output in other service industries and construction also showed 2 per cent growth. Primary production declined by 9 per cent from the corresponding month of the previous year.

The Monthly Indicator of Total Output is based on twelve monthly series on different industries of the economy. The series are summed up by weighting.

The methods for fixed price calculations in National Accounts have been revised. Output at current prices and intermediate consumption are now deflated separately and value added at fixed prices derived as the difference of these figures. At the same time, the fixed base year was replaced with a varying one. The method for calculating the Monthly Indicator of Total Output was kept unchanged, so it describes development of output rather than that of value added in the revised National Accounts.

Source: Monthly Indicator of Total Output 2006, August. Statistics Finland

Inquiries: Mr Veli-Pekka Karvinen +358 9 1734 2667, kansantalous.suhdanteet@stat.fi

Director in charge: Mr Ari Tyrkkö

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Last updated 20.10.2006