Industrial output grew by 3.7 per cent in December

According to Statistics Finland, seasonally adjusted industrial output was 3.7 per cent higher in December 2007 than twelve months earlier. Output grew most, by 17 per cent, in the manufacture of electrical and electronic products. Growth was also observed in energy supply and chemical industry. Output declined most, by close on 3 per cent, in the wood and paper industry. According to preliminary data, industrial output grew by 4.6 per cent in 2007.

Revised data for December 2007 will be published at 9 am on 29 February 2008 in connection with the industrial output data for January 2008. Because of the method used, seasonally adjusted figures for previous months may change even if the original figures do not become revised. The seasonally adjusted figures will also be adjusted for working days.

Final annual data for 2006 are published and the monthly volume index data for 2007 are revised in connection with the Volume Index of Industrial Output published now. Where appropriate, the use of value data has been increased for the year 2007. This has enabled the more comprehensive than before inclusion in the statistics of services produced by manufacturing enterprises. Services may include not only so-called industrial services (repair, maintenance and installation) but also other services such as research and development services, administrative services, royalties and licences as well as merchanting services.

Their revision at this early stage is done as part of the project on the development of the Volume Index of Industrial Output which was launched in 2006 and will run until the end of 2009. The objective of this development project spanning several years is to make the Volume Index of Industrial Output describe the development of manufacturing output at constant prices as well as possible. Until now the monthly Volume Index of Industrial Output has described mainly the development of the volume of commodities produced in Finland.

The series of industries 28 (Manufacture of fabricated metal products) and DL (Manufacture of electrical and optical equipment) have been influenced the most by these revisions to data for the year 2007. For these series, the data are not fully comparable with data published earlier, because of the increased use of value data and the broader coverage of services. The measures have also improved the coverage of the sample-based monthly index.

More information on the revision of the Volume Index of Industrial Output is available at http://tilastokeskus.fi/til/ttvi/2007/12/ttvi_2007_12_2008-01-31_uut_001_en.html

Seasonally adjusted change in industrial output by industry 12/2006-12/2007, %

Seasonally adjusted change in industrial output from previous month, %

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

Source: Volume Index of Industrial Output 2007, December. 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 31.1.2008

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2007. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2007/12/ttvi_2007_12_2008-01-31_tie_001_en.html