High prices account for turnover growth

Manufacturing turnover increased by 6 percent in May 2008, compared to May 2007. In April this year, turnover grew by 14 percent. Turnover growth in April was achieved with two extra working days relative to one year previously, while May 2008 was one working day down on May last year. The negative effect of one working day less in May is estimated at over 2 percent.

The turnover increase was entirely caused by high selling prices. With 14 percent, turnover growth was highest in the oil refining and chemical industry. In food processing and the metal industry turnover improved too. In the other branches, turnover declined.

This is the fourth month in a row that the increase in domestic turnover exceeds exports. Manufacturers realised 7 percent more turnover from domestic sales. They saw export turnover rise by 4 percent.

Manufacturing turnover