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Published: 16 March 2007

Total output fell in January

According to the seasonally adjusted series of the Monthly Indicator of Total Output calculated by Statistics Finland, the volume of total output fell by 1.3 per cent in January from the month before.

Volume of total output 2000 - 2007, 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 2.1 per cent higher than in January 2006

The volume of total output grew by 2.1 per cent in January 2007 from January of the previous year. January 2007 had one working day more than the corresponding month of the previous year. Adjusted for working days, total output grew by 1.0 per cent year-on-year. Among the six main industries of the Monthly Indicator of Total Output, decline in output was only recorded in manufacturing.

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

According to the original series, industrial output went up by 1.4 per cent from January 2006. Output volumes in the whole metal industry fell by 3 per cent and production in its sub-industry of manufacture of electronic and electrical products declined by 4 per cent. In the wood and paper industry, output declined by one per cent from January 2006. Output volumes in other manufacturing and energy supply went up by 1 and 2 per cent, respectively.

Sales volumes of trade went up by 6 per cent. Motor vehicle sales went up by 5 per cent, wholesale trade by 7 per cent and retail trade by 6 per cent.

Construction output grew by 7 per cent. Output in other service industries increased by 2 per cent and in transportation by 3 per cent. Primary production went up by 19 per cent and fellings increased by 30 per cent from January 2006.

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 were revised in spring 2006. Output at current prices and intermediate consumption are now deflated separately and value added at fixed prices is 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 2007, January. 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 16.3.2007