31 December 2001
Inquiries: Mr Arto Kokkinen +358 9 1734
3355, arto.kokkinen@stat.fi
Director in charge: Mr Markku Suur-Kujala
Total output fell by 0.7 per cent in October from one year ago
The volume of total output was 0.7 per cent smaller in October 2001 than in October 2000. Output fell in three industries, i.e. primary production, manufacturing and construction, of the six main ones included in the Monthly Indicator of Total Output calculated by Statistics Finland. The industries of trade, public and other services, and transport grew. Total output has grown in all by 1.1 per cent during the January to October period this year when compared to the corresponding months last year.
Industrial output fell by over 6 per cent in October. Output decreased by 7 per cent in the manufacture of electrical products and by close on 12 per cent in the wood and paper industry. The decline in manufacturing output was partially influenced by the record amounts witnessed in it in the comparison period of last year's October. Output in agriculture and forestry went down by 8 per cent in October because fellings decreased by 12 per cent. Construction contracted by one per cent. Output in the transport industry grew by 3 per cent, mainly due to increased road transport. Output in trade grew by 4 per cent from October 2000. Within trade, wholesale trade increased by 6 per cent and retail trade by 5 per cent. Car sales went down by 7 per cent. Output in other services and public services grew by just short of 3 per cent.
From February to June total output kept falling in comparison to the previous month. In July, however, the falling trend of total output halted. In August, September and October, total output grew again compared to the previous month. The volume of total output was 40 per cent higher in October this year than at the depth of the recession in March 1993.
The Monthly Indicator of Total Output is based on twelve monthly series on different sectors of the economy. The series are summed up by weighting.
Source: Monthly Indicator of Total Output 2001, October. Statistics Finland