Finland GDP


Economic activity drops in June

Economic activity was flat in June over the same month last year in working-day adjusted terms, according to the monthly Trend Indicator of Output. The reading followed a 0.7% contraction in May. The reading was the result of a drop in the secondary sector, which offset expansion in both the primary and services sectors.

On a monthly basis, economic output fell a seasonally and working-day adjusted 0.1% over the previous month, which contrasted the 1.3% expansion recorded in May.

Based on preliminary data, the statistical institute estimates GDP to have grown a seasonally adjusted 0.7% over the preceding three-month period in Q2, following the 0.3% increase recorded in the first quarter.

The Central Bank expects GDP to contract 0.8% this year and to rebound to a 0.7% expansion in 2014. FocusEconomics Consensus Forecast panellists expect GDP to contract 0.2% this year, which is unchanged from last month's projection. For 2014, the panel sees GDP expanding at 1.5%.


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Finland GDP Chart

Finland GDP Monthly June 2013

Note: Quarter-on-quarter changes of seasonally adjusted GDP in %.
Source: Statistics Finland and FocusEconomics calculations.

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