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Information about revisions to the Volume Index of Industrial Output

Final data for 2006: Final annual data for 2006 were published in connection with the release of the Volume Index of Industrial Output for December 2007 on 31 January 2008. The sample-based monthly volume index has been revised against the annual volume index that is based on more extensive data. According to the final data for 2006, the output of all manufacturing (TOL CDE) grew by 9.4 per cent from the year before, while the preliminary data put the growth at 7.8 per cent.

In connection with the publishing of the annual volume index 2006, Statistics Finland has reviewed and fixed the Arima models that are used in seasonal adjustment. Changing of the models has in some industries also influenced the already released seasonally adjusted figures for previous months.

Revisions concerning data for 2007

The monthly volume index data for 2007 was also revised in connection with the release of the December data. The revision of data for 2007 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. For more information (in Finnish), see http://tilastokeskus.fi/org/tilastokeskus/tkhankkeet_teollisuus.html

The use of value data has been increased and the coverage of services has been improved in the Volume Index of Industrial Output published now. The weights of certain establishments whose activities have changed substantially have also been revised.

Using value data and taking services into account

Where appropriate, value data for 2007 have been used in the Volume Index of Industrial Output published now. This has also 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.

Some of the data on value become available to Statistics Finland quarterly, so in future the data in these statistics will be adjusted within one year more frequently than before. However, the data will become final clearly faster than before, as up to now their revision into final data has taken approximately one year from the end of the statistical reference year.

The weight structure can now be revised monthly

At present, the Volume Index of Industrial Output is based on a sample of some 1,000 establishments. The index at the most accurate aggregate level is calculated so that all establishments belonging to one industry are weighted together with the most recent value data on annual output.

The calculation method of the Volume Index of Industrial Output was changed so that checking monthly heading weights is possible. Under the new system, weights can be changed from the desired month onwards if output starts to decrease or increase.

Data for 2007 have been revised again so that the weights of establishments showing strong increase or decrease have, where necessary, been changed monthly.

Level of detail of published data changes

Confidentiality is taken into account when data are published. In other words, the data or development of a single enterprise cannot be deduced on the basis of the results.

As a result of the revisions implemented now, the sub-industries (30, 31, 32 and 33) of industry DL, Manufacture of electrical and optical equipment, will no longer be published.

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Last updated 31.1.2008