Finland: Economic activity growth falls to 10-month low in January
March 15, 2022
Economic activity increased 3.3% year-on-year in working-day adjusted terms in January (December: +4.4% yoy).
January’s slowdown came on the back of a softer expansion in the services sector. This more than offset activity in secondary production growing at a brisker pace in January. Meanwhile, activity in the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—declined at a more moderate pace.
On a monthly basis, economic activity dropped 0.7% in seasonally-adjusted terms in January, contrasting December’s 1.6% expansion. Meanwhile, annual average economic activity growth rose to 3.8% in January (December: +3.4%), pointing to an improving trend.
Author: Marta Casanovas , Economist