Index of industrial production, May 2001

A decline in the energy goods output by 7.0 per cent brought the overall production down from April to May. The changes were related to low oil and gas output and a low level of exploring activities in May. Some of the major oil fields have been shut down during parts of the month for normal recovery. The electricity, gas and steam supply continued downwards during May, and the output was more than 20 per cent lower than in the corresponding month last year.

A slight increase in manufacturing from April to May

The manufacturing output had a 0.7 per cent increase from April to May, according to seasonally adjusted data. Fabricated metal products and machinery and equipment have had an increase in the production output during May. Oil platforms and modules had a decrease by almost 2 per cent. The output in refined petroleum products and chemical and chemical products have had an increase of 2.5 per cent. This is partly related to a recovery in the refined petroleum output after a period with low production earlier this year.

Small increase during the last 12 months

The manufacturing output in May this year was 0.6 per cent higher than in the corresponding month last year, according to weekly-adjusted data. The growth rate in manufacturing shows an ambiguous picture in May this year. The strike in several manufacturing industries in May last year has affected this picture particularly in oil platform and module industries and the transport equipment industries.