Finland Economic Activity August 2021


Finland: Economic activity growth eases in August but remains solid

October 15, 2021

Economic activity increased 4.6% year-on-year in working-day adjusted terms in August, which followed July's 5.3% increase. August's result marked the worst reading since March, and was driven by a slowdown in the services sector, which more than offset a rebound in the primary sector. Growth in the secondary sector was broadly stable from July.

On a seasonally-adjusted monthly basis, economic activity rose 0.3% in August (July: 0.0% mom). Meanwhile, the trend improved notably, with the annual average growth of economic activity coming in at an over one-year high of plus 1.6%, up from July's 0.9%.

FocusEconomics Consensus Forecast panelists forecast GDP to expand 2.9% in 2021, which is up 0.1 percentage points from last month’s forecast. In 2022, panelists foresee economic growth of 2.8%, which is unchanged from the prior month’s estimate.

Author:, Junior Economist

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Finland Economic Activity Chart

Finland GDP Monthly August 2021 0

Note: Year-on-year and annual average variation of working-day adjusted Trend Indicator of Output (TIO) in %.
Source: Statistics Finland and FocusEconomics calculations

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