Index of industrial production, March 2000

Compared to February, the seasonally adjusted figure for the electricity production shows a substantial increase of 6.2 per cent in March 2000. An increase in electricity export is main cause to this upward trend. Energy goods production rose by 1.9 per cent in the first quarter of 2000.

The manufacturing output recorded a modest change from February to March (0.2 per cent). Using weekly adjusted figures, following consecutive months of negative growth rates there was a positive change in manufacturing output between March 2000 and March 1999.

Mixed picture

There is a mixed picture when looking at growth rates within the manufacturing industries.

Large reduction in offshore investment activities in 1999 still effects negatively on the engineering industries. In the first quarter the oil platforms and modules industries output declined by 2.4 per cent compared with the previous quarter.

On the other side the general trend pointed to growth in traditional export industries. There are especially industries like pulp, paper and paper products and printing which experienced increased demand and better prices in export markets. The paper and paper product production increased by 5.4 per cent in March compared to the same period in 1999.