Index of industrial production, May 2000

Compared to April, the seasonally adjusted figures for May 2000 show a substantial increase in the electricity production and the oil and gas extraction. Energy goods production rose by 8.3 per cent during the first five months of 2000 compared with the same period of 1999. Manufacturing output recorded a modest change from April to May 2000 (-0.3 per cent). Using weekly adjusted figures, there was a negative change by 3.9 per cent in manufacturing output between May 2000 and May 1999.

Ambiguous picture in manufacturing

The growth rates in manufacturing show an ambiguous picture. Output in the oil platforms and modules industries declined by 17.3 per cent in May compared to the same month last year. The strike in several manufacturing industries in May has also had negative impact on the manufacturing output, particularly for the oil platforms, modules industries and the transport equipment. However, the situation is different for the traditional export industries like pulp, paper and paper products and printing. The general trend pointed to growth in those industries. Compared to the same month last year the production of paper and paper products increased by 8.7 per cent in May.