In February, industrial output contracted 2.9% in working-day adjusted terms over the same month last year which, nevertheless, was better than the revised 4.4% decline seen in January (previously reported: -5.2% year-on-year). The improvement was mostly the result of a slower pace of contraction in the manufacturing sector, which stepped up from a 1.7% contraction in January to a 0.7% drop in February. A month-on-month comparison corroborates the improvement suggested by the annual data, as industrial output increased a seasonally adjusted 1.4%, which contrasted the 4.5% contraction observed in January. Owing to the negative annual reading, the trend continues to point downwards, with annual average growth in industrial production falling from 0.7% in January to a flat reading in February.
Industrial production contracts at slower pace in February
April 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.