Finland: Monthly economic activity drops at sharpest pace since January in June
August 17, 2022
Economic activity slid 0.2% in month-on-month seasonally-adjusted terms in June, which contrasted May's 0.2% increase. June's result marked the worst reading since January. The reading came on the back of weaker activity the services sector. Meanwhile, the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—gained steam.
On an annual basis, economic activity rose at a softer pace of 1.0% in June (May: +2.6% yoy), the worst result since March 2021. Moreover, the trend pointed down, with the annual average growth of economic activity coming in at 3.1% in June, down from May's 3.7% reading.
Meanwhile, according to preliminary estimates, the economy grew 0.6% quarter on quarter in seasonally adjusted terms in Q2 (Q1: +0.5%).