Finland Economic Activity February 2022

Finland

Finland: Economic activity growth slows in February

April 14, 2022

Economic activity expanded 2.9% year-on-year in working-day adjusted terms in February, which was a deterioration from January's 3.1% increase.

February’s activity slowed down due to a softer expansion in services compared to the previous month. This more than offset a rebound in the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—and faster growth in secondary production as well.

On a seasonally-adjusted monthly basis, economic activity fell at a softer pace of 0.2% in February (January: -0.9% s.a. mom). Meanwhile, the trend improved, with the annual average growth of economic activity coming in at 4.2% in February, up from January's 3.8%.

FocusEconomics panelists project GDP to grow 2.4% in 2022, which is down 0.3 percentage points from last month’s forecast, and 1.6% in 2023.


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Finland GDP Monthly February 2022

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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