Press releases 1998

31 December, 1998

Output grew by 4.5 per cent in October

Total output increased by 4.5 per cent in the year to October. Growth decelerated slightly from September, when the rate of growth on the previous year was 5.1 per cent. The Monthly Indicator of Total Output of Statistics Finland shows that output grew in all main branches of industry with the exception of agriculture and forestry.

23 December, 1998

Strong growth in GDP continued in the third quarter

Finland's gross domestic product for the July to September quarter of 1998 grew by 4.8 per cent compared to the corresponding period in 1997, while in the first half of the year it increased by 6 per cent. In the January to September period, gross domestic product went up by 5.6 per cent. This appears from the preliminary data on National Accounts compiled by Statistics Finland.

18 December, 1998

Export prices down by 1.8 per cent from October to November

According to Statistics Finland, export prices went down by 1.8 per cent from October to November. The fall was primarily due to lower prices of pulp, paper and paper products, electrical equipment and oil products. Export prices fell by 5.9 per cent in the year to November, which was due to lower prices of electrical equipment, oil products and base metals.

16 December, 1998

Employment and unemployment in November 1998

- 46 000 more employed than a year ago
- Employment rate of 15 to 64 year-olds up by one percentage point to 63.5 per cent
- Rate of unemployment 10.1 per cent, 247 000 unemployed
- 13 000 new vacancies at labour exchange offices

15 December, 1998

Growth of industrial output 8.3 per cent in October

According to Statistics Finland, industrial output as calculated per working day grew by 8.3 per cent in the year to October. The year-on-year increase in the manufacture of electrical equipment amounted to 57 per cent. Without the growth in the output of the electrical industry, total industrial output in October would have been down by approximately one per cent on the previous year. Output did, indeed, fall in most branches of the manufacturing industry. Output of pulp, paper and paper products remained almost unchanged in October compared to the previous year.

15 December, 1998

Inflation slowed down to 0.9 per cent in November

According to Statistics Finland's Consumer Price Index, consumer prices went up by 0.9 per cent in the year to November. Inflation was last this low in March 1997.

3 December, 1998

Consumer confidence in economy unchanged

Consumers' confidence in rapid economic growth did not weaken any further in November. Seventy-six per cent of consumers expected that the country's economic situation would either remain unchanged or improve further in the next 12 months, while 19 per cent expected it to worsen. Against this, the proportion of those believing that unemployment would decline continued to recede and was 41 per cent in November as against October's 44 per cent. The data are based on Statistics Finland's Consumer Survey, for which 1,530 persons resident in Finland were interviewed between 16 and 23 November.

27 November, 1998

Growth in output continued in September

Total output increased by 5.1 per cent in the year to September. Growth accelerated slightly from August when the rate of growth on the previous year was 4.4 per cent. The Monthly Indicator of Total Output of Statistics Finland shows that output grew in all main branches of industry with the exception of agriculture and forestry.

18 November, 1998

Producer prices continued to fall in October

According to Statistics Finland, all producer price indices went down both from September to October and in the year to October.

17 November, 1998

Employment and unemployment in October 1998

- 62 000 more employed than a year ago
- Rate of unemployment 10.0 per cent, 247 000 unemployed
- Labour supply increased, youth employment improved further
- 14 000 new vacancies at labour exchange offices

16 November, 1998

Industrial output up by 8.5 per cent in September

According to Statistics Finland's index per working day, industrial output went up by 8.5 per cent in the year to September. The manufacture of radio, television and communication equipment increased by as much as 79 per cent on the year before. In contrast, the production of pulp, paper and paper products grew by only one per cent compared to last year's September.

Inflation stood at 1.1 per cent in October

According to Statistics Finland's Consumer Price Index, consumer prices went up by 1.1 per cent in the year to October. Inflation slowed down, for it was 1.3 per cent in September. From September to October, prices remained unchanged.

5 November, 1998

Consumer confidence in own economy continues strong

In October, 23 per cent of consumers believed that their own economy would improve over the next 12 months while only 9 per cent expected it to deteriorate. The financial situation of households was slightly better in October than a year ago. A total of 65 per cent of consumers were confident that they could save money in the next 12 months and 16 per cent intended to raise a loan. Intentions to purchase diverse consumer durables continued strong. The data are based on Statistics Finland's Consumer Survey, for which 1 590 persons resident in Finland were interviewed between 19 and 26 October.

30 October, 1998

Growth in output slowed down slightly in August

Total output increased by 4.4 per cent in the year to August. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main branches of industry, with the exception of agriculture and forestry.

19 October, 1998

Import prices down by almost one per cent from August to September

According to Statistics Finland, import prices went down by 0.9 per cent from August to September. The fall was due to lower prices of electricity, oil products, electrical equipment, basic metals and vehicles.

16 October, 1998

Employment and unemployment in September 1998

- 61 000 more employed than a year ago
- Rate of unemployment 10.2 per cent, 252 000 unemployed
- Labour supply increased, youth employment improved further
- 17 000 new vacancies at labour exchange offices

15 October, 1998

Industrial output up by 5.3 per cent in August

According to Statistics Finland's index per working day, industrial output went up by 5.3 per cent in the year to August. Growth slowed down from July, when output increased by 8 per cent.

15 October, 1998

Inflation in September 1.3 per cent

According to Statistics Finland's Consumer Price Index, consumer prices rose by 1.3 per cent in the year to September. Inflation was kept down by the abolition of stamp duty on loans, in particular. From August to September, prices rose by 0.3 per cent.

8 October, 1998

Consumer confidence in fast economic growth weaker in September

Consumers' estimates of Finland's future economic development declined in September. 18 per cent of consumers believed the economic situation would deteriorate in the next 12 months and 28 per cent expected the economy to improve. In August the corresponding figures stood at 10 and 39 per cent. The data are based on Statistics Finland's Consumer Survey, for which 1,660 people resident in Finland were interviewed between 21 and 28 September.

30 September, 1998

Growth in output continued in July

Total output increased by 5.5 per cent in the year to July. Growth in output was slightly faster than in June when output grew by 4.1 per cent on the previous year. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main branches of industry. Growth in output was especially accelerated by an almost 44 per cent rise in the manufacture of electrical equipment. Economic growth was further sustained by domestic demand, particularly by output increases in forestry, trade and transportation.

22 September, 1998

GDP up by 4.9 per cent in the second quarter

Finland's gross domestic product for the April to June quarter of 1998 grew by 4.9 per cent compared to the corresponding period in 1997. The annual growth was 6.8 per cent in the January to March period. There were two fewer working days in the second quarter and two more in the first quarter than in the previous year because Easter fell on the second quarter. From the first half of 1997 to the first half of 1998, gross domestic product has increased by 5.8 per cent, as indicated by the preliminary data on National Accounts compiled by Statistics Finland.

18 September, 1998

Import prices down by five per cent in the year

According to Statistics Finland, import prices went down by 5.1 per cent in the year to August. The fall was due to lower prices of crude oil, electrical equipment, colour metals, metal ores, chemicals and oil products.

16 September, 1998

Employment and unemployment in August 1998

- 67 000 more employed than a year ago
- Rate of unemployment 10.2 per cent, 258 000 unemployed
- Labour supply increased, youth employment improved further
- 18 000 new vacancies at labour exchange offices

15 September 1998

Industrial output grew by 8.2 per cent in July

According to Statistics Finland's index per working day, industrial output grew by 8.2 per cent in the year to July. After June's slight slowdown, output resumed its growth trend.

August inflation 1.1 per cent

According to Statistics Finland's Consumer Price Index, consumer prices rose by 1.1 per cent in the year to August. Inflation was kept down by the abolition of stamp duty on loans, in particular. From July to August, prices went by up 0.1 per cent.

3 September, 1998

Consumer Survey: Consumer confidence remains strong in Finland

Consumer confidence in favourable economic development continued strong in August. The confidence indicator measuring consumer satisfaction stood at 16.9, that is, the same as in July. This decade, confidence in the economy has only been slightly stronger in April 1997. The data are based on Statistics Finland's Consumer Survey, for which 1,680 people resident in Finland were interviewed between 17 and 24 August.

28 August, 1998

Growth in output slowed down in June

Total output was up by 4.1 per cent in the year to June. The rate of growth slowed down from May, when output was up by 7.4 on the year before. According to the Monthly Indicator of Total Output calculated by Statistics Finland, output went up in all main branches of industry. Growth in manufacturing was curbed by the collapse of peat production and shut-downs for repairs and maintenance in the wood and paper industry. Economic growth continued to be sustained especially by increases of output in wholesale and retail trade, transportation and forestry.

18 August, 1998

Producer prices falling in July

According to Statistics Finland, all producer price indices fell both from June to July and in the year to July.

18 August, 1998

Employment and unemployment in July 1998

- 55 000 more employed than a year ago
- Rate of unemployment 10.1 per cent, 265 000 unemployed
- Youth employment improved
- 17 000 new vacancies at labour exchange offices

17 August, 1998

Growth in industrial output slowed down to 2.8 per cent in June

According to Statistics Finland's index per working day, industrial output went up by only 2.8 per cent in the year to June. Annual growth has not been this modest for a couple of years. Slowdown in the rate of growth was partly due to weather conditions as the production of peat collapsed in June as compared with last year's June. Output in pulp and paper also went down, which was partly caused by repair and maintenance stoppages.

14 August, 1998

Inflation declined to 1.1 per cent in July

According to Statistics Finland's Consumer Price Index, consumer prices rose by 1.1 per cent in the year to July. The rate of inflation slowed down in July as inflation was 1.5 per cent in May and June.

31 July, 1998

Fast growth in output continued in May

Total output went up by 7.3 per cent in the year to May. The annual rate of growth accelerated slightly from April, when it had been 5.8 per cent. Statistics Finland's Monthly Indicator of Total Output shows that output went up in all main branches of industry. Apart from manufacturing, growth continued to be sustained by domestic demand, especially increases in the outputs of trade and construction.

17 July, 1998

Import prices fell by 1.4 per cent in June

According to Statistics Finland, import prices fell by 1.4 per cent from May to June, mainly due to a drop in the price of crude oil.

16 July, 1998

Employment and unemployment in June 1998

- 44 000 more jobs than a year ago
- Rate of unemployment 12.0 per cent, 323 000 unemployed
- Youth unemployment went down most
- 23 000 new vacancies at labour exchange offices

15 July, 1998

Industrial output up by 11.8 per cent in May

The rate of the growth in industrial output intensified in May. According to Statistics Finland's index per working day, industrial output went up by 11.8 per cent in the year to May.

15 July, 1998

Rate of inflation unchanged in June

According to Statistics Finland's Consumer Price Index, consumer prices rose by 1.5 per cent in the year to June. The rate remained unchanged from May.

30 June, 1998

Fast growth in output continued in April

Total output went up by 5.8 per cent in the year to April. Growth in output slowed down slightly, but it was due to the fact that Easter was in April this year. The Monthly Indicator of Total Output of Statistics Finland shows that output grew in all main sections of industry, with the exception of agriculture and forestry. Apart from manufacturing, growth was sustained by output increases in trade and construction.

23 June, 1998

Strong growth of GDP continues in the first quarter of 1998

Finland's gross domestic product for the January to March quarter grew by 6.4 per cent compared to the corresponding period in 1997. Adjusted for seasonal variation, GDP increased by 0.6 per cent on the previous quarter. In the last quarter of 1997, seasonally adjusted GDP grew by 1.2 per cent. This appears from the preliminary data on National Accounts compiled by Statistics Finland.

18 June, 1998

Import prices down by 1.3 per cent in the year

According to Statistics Finland, import prices fell by 1.3 per cent in the year to May. In April the prices were still up by 0.1 per cent in the year. The fall was due to lower prices of crude oil, electrical equipment, metal ores and colour metals.

16 June, 1998

Employment and unemployment in May 1998

- 60 000 more jobs than a year ago
- School leavers enter the labour market
- Rate of unemployment 14.6 per cent, 385 000 unemployed
- 29 000 new vacancies at labour exchange offices

15 June, 1998

Industrial output up by 10.5 per cent in April

Strong growth in industrial output continued through April. According to Statistics Finland's index per working day, industrial output increased by 10.5 per cent in the year to April.

15 June, 1998

Rate of inflation slowed down to 1.5 per cent in May

According to Statistics Finland's Consumer Price Index, consumer prices rose by 1.5 per cent in the year to May. The rate of inflation slowed down, for in April it stood at 1.8 per cent. The slowing down was mainly attributable to the abolition of stamp duty on loans and to lower mobile telephone call charges. In the April to May period prices remained unchanged.

29 May, 1998

Harmonised statistics on unemployment from Statistics Finland and the EU

Statistics Finland has adopted in its unemployment statistics the same practices as are used by Eurostat, the Statistical Office of the European Communities. Until now, the criterion on how actively a person seeks work has been interpreted in Finnish statistics more loosely than recommended by the EU.

29 May, 1998

Accelerated growth in output in March

Total output increased by 8 per cent in the year to March. The Monthly Indicator of Total Output of Statistics Finland shows that output grew briskly in all main sections of industry.

26 May 1998

Profitability of industry improved in 1997

The profitability of large industrial enterprises clearly improved in 1997 in comparison with the previous year. The operating margin went up to 12.6 per cent of the turnover last year, while it had been 10.9 per cent in 1996. The net result amounted to FIM 15.6 billion which was almost FIM 5 billion more than the year before but still FIM 3 billion less than in the record year of 1995. The indebtedness of enterprises lowered and their equity improved for the fifth consecutive year. This appears from Statistics Finland's Financial Statements Statistics of Large Industrial Enterprises.

19 May 1998

Employment and unemployment in April 1998

- 31 000 more jobs than a year ago
- Rate of unemployment 14.3 per cent, 359 000 unemployed
- 27 000 new vacancies at labour exchange offices

18 May, 1998

Export prices up by close on one per cent in the year

According to Statistics Finland, export prices went down by 1.0 per cent from March to April. This was due to 5.6 per cent lower prices of electrical equipment.

15 May, 1998

Industrial output up by 9.5 per cent in March

Strong growth in industrial output continued through March. According to Statistics Finland's index per working day, output went up by 9.5 per cent in the year to March, while the corresponding percentages for January and February were 8 and 8.7, respectively. Growth was especially rapid in the metal industry and in the pulp and paper industry.

15 May, 1998

Inflation remained unchanged in April

According to Statistics Finland's Consumer Price Index, consumer prices rose by 1.8 per cent in the year to April. Inflation was the same in March. In the March to April period, prices went up by 0.5 per cent.

30 April, 1998

Brisk growth in output continued in February

Total output increased by 5.9 per cent in the year to February. Statistics Finland's Monthly Indicator of Total Output shows that output went up in all main sections of industry. Growth was especially accelerated by the nearly 14 per cent increase in output in the metal industry as calculated per working day. In addition to exports, growth was also sustained by domestic demand, manifesting itself as output increases in construction, trade and commerce and transportation.

17 April, 1998

Employment and unemployment in March 1998

- Nearly 33 000 more jobs than a year ago
- Rate of unemployment 13.7 per cent, 339 000 unemployed
- 30 000 new vacancies at labour exchange offices
- EU harmonisation of the Labour Force Survey continues

17 April, 1998

Lower prices of crude oil and oil products reduce import prices

According to Statistics Finland, import prices fell by 0.4 per cent from February to March. The fall was especially due reductions in the world market prices of crude oil and oil products.

15 April, 1998

Industrial output grew by 8.8 per cent in February

The growth rate of Finnish industrial output continues to be fast by international comparison. According to Statistics Finland's index per working day, industrial output increased by 8.8 per cent in the year to February.

15 April, 1998

Year-on-year increase in consumer prices 1.8 per cent in March

According to Statistics Finland's Consumer Price Index, inflation, or the year-on-year increase in consumer prices, was 1.8 per cent in March. In the February to March period, prices went up by 0.2 per cent.

31 March, 1998

Growth in output continued in January

Total output increased by 4.1 per cent in the year to January. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main branches of industry, with the exception of agriculture and forestry. Growth in output was especially accelerated by an almost 10 per cent rise in output in the manufacturing industry.

24 March, 1998

GDP up by 6.2 per cent in the last quarter of 1997

Finland's gross domestic product for the last quarter of 1997 grew by 6.2 per cent compared to the corresponding period in 1996. Growth continued strong from the second quarter of the year onwards. GDP increased by 4 per cent in the first, good 7 per cent in the second, and nearly 6.5 per cent in the third quarter of 1997.

18 March, 1998

Export price increases accelerated slightly in February

According to Statistics Finland, export prices increased by 2.2 per cent in the year to February. That is half a percentage point more than in the previous month. In contrast, increases of other producer prices slowed down.

17 March, 1998

Employment and unemployment in February 1998

- Nearly 60 000 more jobs than a year ago
- Rate of unemployment 13.2 per cent, 328 000 unemployed
- 19 000 new vacancies at labour exchange offices

16 March, 1998

Annual increase in consumer prices continues at 1.9 per cent

According to Statistics Finland's Consumer Price Index, consumer prices went up by 1.9 per cent in the year to February, i.e. inflation has now stayed the same for four consecutive months. On average, prices remained unchanged from January to February.

16 March, 1998

Industrial output grew by 8 per cent in January

According to Statistics Finland's index per working day, industrial output increased by 8 per cent in the year to January. Growth rate of industrial output was faster than average in the metal industry and in the wood and paper industry.

6 March, 1998

A quarter of enterprises produced technological innovations

Every fourth Finnish enterprise launched technologically new products or services on the market between 1994 and 1996. According to an inquiry made by Statistics Finland, most technological innovations were produced by telecommunication and ADP enterprises. A total of 79 per cent of telecommunication enterprises and 64 per cent of ADP service enterprises produced technological innovations. Publishing and printing activities introduced the fewest innovations, only 8 per cent.

27 February, 1998

Production grew at peak year pace last year

The volume of Finland's gross domestic product grew by 5.9 per cent last year, as indicated by the preliminary data on National Accounts by Statistics Finland. Comparable rates of growth were recorded in 1979, 7.0 per cent, and 1989, 5.7 per cent. Total output did, thus, clearly exceed the levels of the pre-recession peak years of 1989 and 1990. Last year's nominal GDP was FIM 618 billion.

27 February, 1998

Accelerated growth in output in December

Total output increased by 6.8 per cent in the year to December 1997. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main sections of industry. In addition to exports, accelerated growth was also generated by domestic demand, reflected in rapid increases of output in construction, trade, and transportation.

18 February, 1998

Producer price indices fell by 0.4 - 0.9 per cent from December to January

The year-on-year changes of the revised producer price indices of Statistics Finland fluctuated between minus 0.1 and plus 1.7 per cent in January 1998. From December 1997 to January 1998, all indices fell by between 0.4 and 0.9 per cent.

17 February, 1998

Employment and unemployment in January 1998

- Nearly 70 000 more jobs than a year ago
- Rate of unemployment 13.8 per cent, 340 000 unemployed
- 18 000 new vacancies in labour exchange offices

16 February, 1998

Industrial output grew by as much as 8.2 per cent last year

Industrial output continued to grow strongly throughout last year. According to Statistics Finland preliminary data, industrial output grew by 8.2 per cent last year. The year-on-year increase was the second largest in the 1990. The only increase in industrial output bigger than this was the 11.5 per cent growth recorded in 1994.

16 February, 1998

Inflation in January 1.9 per cent

According to Statistics Finland's consumer price index, consumer prices went up by 1.9 per cent in the year to January 1998. The increase is identical to the year-on-year increases from November 1996 to last year November, and December 1996 to last December. From December to January, prices went up by 0.1 per cent.

30 January, 1998

Further growth in output in November

Total output increased by 5.9 per cent in the year to November 1997. The Monthly Indicator of Total Output of Statistics Finland shows that output went up in all main sections of industry. Apart from being sustained by a strong increase in manufacturing output, growth also continued to be supported by increases in output in agriculture and forestry, construction, and transportation.

19 January, 1998

Export prices down by 2 per cent from 1996 to 1997

Comparing the average prices for the whole year, export prices went down by 2 per cent from 1996 to 1997. The drop was mainly attributable to the reduction of nearly 9 per cent in paper and board prices, which had started to fall in 1996 and continued to decline until May 1997. From September to December paper and board prices increased again by 5.3 per cent. The data are extracted from Statistics Finland Producer Price Indices.

16 January, 1998

More jobs in services, manufacturing and transport in December

According to the Labour Force Survey of Statistics Finland, there were 1 854 000 wage earners in December, that is a good 70 000 more than the year before. Jobs increased most in the public sector and other services, manufacturing and transport.

15 January, 1998

Inflation at 1.9 per cent in December

According to Statistics Finland's consumer price index, consumer prices went up by 1.9 per cent in the year to December. In the November to December period prices remained, on the average, unchanged. The average rate of inflation in 1997 was 1.2 per cent.

15 January, 1998

November industrial output up by 9.7 per cent

Industrial output continued to grow in November. According to Statistics Finland's index per working day, output increased by 9.7 per cent in the year to November. Growth was mainly sustained by exports, but domestic markets also grew stronger.