31 July, 1998

Inquiries: Mr Erkki Lääkäri +358 9 1734 3355
Director in charge: Mr Markku Suur-Kujala

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.

Output in manufacturing as calculated per working day grew by 11.8 per cent in the year to May. Output went up by 7.5 per cent in construction and by 6.7 per cent in trade. In transport, output increased by 5.9 per cent. Output in agriculture and forestry grew by 3.1 per cent from the previous year. Other services and government services grew by 1.7 per cent.

The Monthly Indicator of Total Output is based on eleven monthly series on different sectors of the economy. The series are summed up by weighting.

Source: Monthly Indicator of Total Output 1998, May. Statistics Finland