In September, economic activity increased 4.2% over the previous year in working-day adjusted terms according to the monthly Trend Indicator of Output. The reading was slightly below the 4.5% increase tallied in August. Moreover, the figure was favoured by a low base of comparison, as in September last year output plunged 10.2% annually. A month-on-month comparison corroborates the notion of a softer growth as output remained flat in seasonally adjusted terms over the previous month. The monthly deceleration was the result of weaker growth in the services sector, which slowed from 4.2% in August to 3.2% in September. In contrast, both the primary (agriculture, hunting, forestry and fishery) and secondary (manufacturing and construction) sectors improved. The secondary sector accelerated to a 9.7% expansion in September (August: +8.8% year-on-year), while the primary sector moderated the pace of decline by contracting 4.9% (August: -10.1% yoy). Based on the preliminary monthly data, Statistics Finland estimates that in the third quarter the economy grew a seasonally adjusted 1.3% over the previous quarter and 4.3% in annual terms. The complete set of data for gross domestic product will be released on 9 December. The Bank of Finland anticipates that the economy will grow 2.6% this year and 3.0% next year.
Economy continues sustained recovery
November 12, 2010
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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.