Finland Economic Activity February 2020

Finland

Finland: Economic activity growth wanes in February

April 15, 2021

Economic activity shrank 0.6% year-on-year in working-day adjusted terms in February, softening notably from January’s 1.4% contraction.

February’s improvement was chiefly due to the services sector falling at a more moderate rate, while secondary production growth accelerating from the previous month. That said, output in the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—grew at a softer pace in February.

On a seasonally-adjusted monthly basis, economic activity rose 0.3% in February, slowing down markedly from January’s 1.5% expansion. Meanwhile, the trend pointed down, with annual average variation of economic activity coming in at minus 3.1% in February, down from January’s minus 2.9%.

FocusEconomics panelists forecast the economy to expand 2.7% in 2021, which is up 0.1 percentage points from last month’s forecast, and grow 2.4% in 2022.


Author:, Junior Economist

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Finland GDP Monthly February 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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