In January, economic activity expanded a working-day adjusted 0.2% over the same month last year according to on the monthly Trend Indicator of Output. The reading contrasted the revised 1.5% contraction seen in December (previously reported: -1.9% year-on-year). The expansion was the result of a strong increase in the services sector, which registered the strongest expansion since April 2012 and more than offset the decline tallied in the primary and secondary sectors. On a monthly basis, economic output expanded a seasonally- and working-day adjusted 0.5% in January, which was up from the revised flat reading tallied in December (previously reported: -0.3% month-on-month). As a consequence of the expansion, annual average growth in economic activity improved from December's -1.5% to -1.2% in January, and now sits at the highest level since December 2012. The Central Bank expects the economy to expand 0.6% in 2014 and to accelerate to 1.7% in 2015. FocusEconomics Consensus Forecast panelists expect GDP to grow 1.0% this year, which is unchanged from last month's projection. For 2015, the panel sees GDP expanding at 1.8%.
Economic activity rebounds in January
March 14, 2014
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Finland GDP Chart
Note: Quarter-on-quarter changes of seasonally adjusted GDP in %.
Source: Statistics Finland and FocusEconomics calculations.
Finland Economic News
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.
October 14, 2016
The current account posted a EUR 166 million deficit in August, according to Statistics Finland.
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.