A New indicator for the volume of industrial output

Abstract

Particularly since last year s reform of national accounts, it has been very difficult to estimate changes in the volume of industrial output.The present article introduces an alternative monthly indicator of industrial output calculated on the basis of publicly available material.The quarter-on-quarter changes derived with this indicator correspond on average more closely to the developments recorded in the national accounts than the volume index of industrial output calculated by Statistics Finland.The new indicator is available on the Bank of Finland website.