In September, economic activity grew a working-day adjusted 1.6% over the same month last year, based on the Trend Indicator of Output. The print came in at half the 3.2% increase observed in August and marked the slowest pace of expansion since March 2010. Furthermore, a month-on-month comparison suggests a decline, as output contracted a seasonally adjusted 0.6% over the previous month (August: +0.2% mom). The industrial sector led the moderation by growing a working-day adjusted 0.1%, which came in well below the 3.0% year-on-year increase observed in August and marked the worst reading since December 2009. The services sector also moderated, stepping down from a 3.4% year-on-year expansion in August to a 2.1% increase in September. Only the primary sector showed an improvement in September, which grew 5.5% over the same month last year (August: +0.1 % yoy). Based on preliminary data, the statistical institute estimates that GDP increased in the third quarter a seasonally-adjusted 0.3% over the previous quarter. Moreover, the statistical institute projects that GDP grew 2.7% over the same period last year in working-day adjusted terms. Revised and more detailed data will be released on 5 December. In its latest macroeconomic report from June, the Central Bank forecast GDP growth of 3.8% in 2011 and 2.6% in 2012.
Economic activity continues to lose steam in September
November 15, 2011
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Finland Economic News
October 14, 2016
The current account posted a EUR 166 million deficit in August, according to Statistics Finland.
October 14, 2016
In August, economic activity fell a working-day adjusted 0.1% over the same month last year, according to the Monthly Trend Indicator of Output.
September 15, 2016
In July, economic activity expanded a working-day adjusted 1.5% over the same month last year, according to the Monthly Trend Indicator of Output.
September 6, 2016
The Finnish economy recorded flat growth in Q2 over the previous quarter in seasonally-adjusted terms, which represented a slowdown from Q1’s 0.3% expansion, according to preliminary data released by Statistics Finland on 6 September.
August 15, 2016
The current account posted a EUR 219 million deficit in June according to Statistics Finland.