28 August, 1998

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

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.

Output in manufacturing as calculated per working day increased by 2.8 per cent in the year to June. Output in wholesale and retail trade grew by 11 per cent and in transportation by 7.3 per cent. Output in agriculture and forestry increased by 6.3 per cent and in construction by 4 per cent on the year before. 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, June. Statistics Finland