In May, industrial production decreased a working-day adjusted 1.7% over the same month last year. The figure represents an improvement over the 2.8% contraction seen in April and marked, in fact, the slowest pace of decline in five months. The improvement was broad-based, as three out of the four main categories developed favourably in May. In particular, the manufacturing sector contracted less sharply, stepping up from a 0.5% drop in April to a 0.2% decline in May. A month-on-month comparison corroborates the improvement suggested by the annual data, as industrial output increased a seasonally adjusted 1.2% in May, which doubled the 0.6% rise observed in April. That said, the trend continues to point down, with annual average growth in industrial production falling from minus 1.4% in April to minus 2.1% in May.
Industrial output moderates pace of decline
July 10, 2012
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Finland Industry Chart
Note: Month-on-month seasonally adjusted changes and annual average variation of industrial production index in %.
Source: Statistics Finland and FocusEconomics calculations.
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.