Finland: Economic activity growth accelerates in April
June 15, 2021
Economic activity expanded notably in April, with growth clocking in at 6.4% year-on-year in working-day adjusted terms, accelerating from March’s 0.1% increase. While the reading was supported by a favorable base effect, the result still marked an over decade high, pointing to an improvement in underlying dynamics.
April’s upturn was broad-based, with the services sector and the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—both growing at a stronger pace compared to the previous month. Moreover, secondary production bounced back in April.
Consequently, the trend pointed up, with annual average variation of economic activity coming in at minus 1.6% in April, up from March’s minus 2.6%.
On a seasonally-adjusted monthly basis, economic activity bounced back to growth in April, clocking at 1.9%, and contrasting March’s 0.7% decline.
Author: Marta Casanovas , Junior Economist