Finland Economic Activity October 2021

Finland

Finland: Economic activity growth loses pace in October

December 15, 2021

Economic activity growth eased to a three-month low of 4.3% in year-on-year working-day adjusted terms in October, slowing from September’s 5.5% reading.

October’s slowdown was broad-based, with the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—secondary production and the services sector all expanding at softer rates in November.

On a monthly basis, economic activity fell 0.2% in seasonally-adjusted terms in October, contrasting September’s 0.5% expansion. Meanwhile, the trend improved, with the annual average growth of economic activity coming in at plus 2.6%, up from September's 2.1%.

FocusEconomics Consensus Forecast panelists forecast GDP to expand 2.2% in 2022, which is unchanged from last month’s forecast. In 2023, panelists foresee economic growth of 1.7%.


Author:, Economist

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Finland GDP Monthly October 2021

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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