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Information about revisions to the Volume Index of Industrial Output

Calculation of final indices for 2007 and 2008

Statistics Finland has calculated final indices for the years 2007 and 2008. The preliminary monthly volume index is calculated using data obtained from a sample of approximately 1,000 establishments or enterprises. The final annual volume index is calculated from the regional and industrial statistics on manufacturing calculated from structural statistics on manufacturing. More detailed description of the statistics is available at http://tilastokeskus.fi/meta/til/atoi_en.html. Changes in gross value at the most detailed classification level have been divided by change in the producer price index of each industry concerned. The preliminary annual change of the monthly index has been revised with the obtained coefficient.

Below is a table showing annual changes of the preliminary monthly index and the final annual index by industry

TOL 2008	Year 2007	Annual change percentage	Year 2008	Annual change percentage
	Preliminary volume index	Final volume index	Preliminary volume index	Final volume index
Total industries (BCDE)	4.4	4.6	-0.6	0.8
Mining and quarrying (B)	-21.7	-22	0.6	2.3
Manufacturing ( C )	5.5	5.9	0,4	1.9
Manuf. of wood and of products of wood and cork, except furniture; manuf. of articles of straw and plaiting materials (16)	-2.1	-0.6	-16.3	-16.2
Manufacture of paper and paper products (17)	0.4	0.6	-7.7	-6.4
Printing and reproduction of recorded media (18)	-1.5	-0.4	-1.6	-5.6
Manufacture of other non-metallic mineral products (23)	4.6	4.8	-5.3	-5.4
Manufacture of basic metals (24)	-11.4	-8.2	-3.9	-4.4
Manufacture of fabricated metal products, except machinery and equipment (25)	8	8.2	4	4.9
Manufacture of machinery and equipment n.e.c. (28)	8.5	11.5	8.4	3
Food industry (10-11)	2.2	1.3	0.3	0.2
Textile, clothing and leather industry (13-15)	-3.5	-2.8	-8.4	-7.7
Forest industry (16-17)	-0.3	0.3	-10.8	-9.9
Chemical industry (19-22)	1.7	3.5	1.9	3.5
Electrical and electronics industry (26-27)	16.4	16	3.5	13.8
Manufacture of transport equipment (29-30)	-1.2	-1.2	9.5	-1.8
Metal industry (24-30)	8.4	9.3	4	6.7
Other manufacturing (32)	17.5	15.6	-8.2	-12
Electricity, gas, steam and air conditioning supply (D)	-1.4	-1.4	-8	-8

Revisions for January--October 2009

Calculation of the final annual volume index influences the index point figures for 2009. In addition, the deflators used in industry 26-27, electrical and electronics industry, have been reviewed. This revision also has an impact on the change percentages.

Review of seasonal adjustment models

The used seasonal adjustment models were reviewed in connection with the calculation of the annual volume index. These revisions influence the seasonally adjusted, working-day adjusted and trend point figures as well as the change percentages of previous years.

So-called level shifts have been allowed in certain industries in the seasonal adjustment models used at Statistics Finland. Starting from late 2008, the allowance of these level shifts influences the trend curve so that it 'plunges' more steeply than the original trend and levels off half way through 2009. For further information about level shifts and their impacts, see: http://tilastokeskus.fi/ajk/tiedotteet/2009/tiedote_019_2009-12-08_en.html

Below is a figure which shows the original series and the trend series for total industries (BCDE) in two ways: by allowing level shift (green) and by not allowing level shift (red) in the trend. The seasonal adjustment models do not influence the original series.

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Last updated 10.12.2009