In October, economic activity grew a working-day adjusted 5.5% over the same month the previous year based on the Trend Indicator of Output. The print represented the fastest pace of expansion since February 2008 and, although favoured by a low base of comparison (October 2009: -8.0% year-on-year), undoubtedly points to a strong rebound. A month-on-month comparison corroborates this notion, as output expanded a robust 1.5% in seasonally adjusted terms over the previous month (September: +0.5% mom). All three main sectors accelerated in October, the most notable improvement coming from the primary sector, which expanded a robust 12.9% (September: +1.4% yoy). In addition, the industrial sector also increased a robust 11.0% (September: +7.1% year-on-year), while the services sector expanded 3.3% (September: +2.8% yoy). More recent data from the industrial sector suggest that growth may have softened in November, as industrial production slowed to a 6.2% annual expansion (October: +10.8% yoy). The deceleration was mostly due to a weaker result in the manufacturing sector, which decelerated from an 11.4% expansion in October to a 5.2% increase. Moreover, strong growth in the mining and quarrying sector moderated to a 22.4% expansion (October: +31.0% yoy). Meanwhile, the Bank of Finland anticipates that the overall economy will grow 3.0% in 2011 and 2.5% in 2012.
Economy shows signs of weakening in November
January 10, 2011
Looking for forecasts related to GDP in Finland? Download a sample report now.
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.