Published: 29 August 2008
According to Statistics Finland, industrial output adjusted for working days was 1.4 per cent lower in July 2008 than twelve months earlier. In the January to July period, industrial output adjusted for working days grew by 2.4 per cent from twelve months back. The prolonged growth in industrial output stalled. Of the main industries, growth was observed only in energy supply. The manufacture of electrical and electronic products declined by 11.8 per cent in July. Output in the wood and paper industry decreased by 9.7 per cent and in other manufacturing by 3.6 per cent in July. In the chemical industry, output decreased by 1.3 per cent in July.
Working day adjusted change in industrial output by industry 7/2007-7/2008, %
Seasonally adjusted change in industrial output from previous month, %
Working day adjusted change in industrial output from corresponding month of previous year, %
Where appropriate, the use of value data has been increased again in early 2008. This has made it possible to widen the coverage of services produced by manufacturing enterprises in the statistics. Besides so-called industrial services (repair, maintenance and installation), these may also comprise other services, such as research and development services, administrative services, royalties and licences, as well as merchanting services. The measures have also improved the coverage of the sample-based monthly index.
In some months certain data on the manufacture of electronic and electrical products are not available sufficiently early. Estimation is used for this industry in a number of months, so more revisions than normal may take place in the data. This may have resulted also in changes in the point figures and change percentages of the first part of the year.
Revised data for July will be published at 9 am on 30 September 2008 in connection with the release of industrial output data for August.
Source: Volume Index of Industrial Output 2008, July. Statistics Finland
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Last updated 29.8.2008