Finland: Monthly economic activity drops at sharpest pace since July 2022 in February
Economic activity decreased 0.7% month-on-month in seasonally adjusted terms in February (January: +0.7% mom). February’s result marked the worst reading since July 2022. Looking at the details of the release, the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—decreased at a softer pace in February, and the secondary sector also declined at a more moderate, albeit still pronounced, rate.
On an annual basis, economic activity rose 0.4% in February, which was below January’s 1.2% expansion. Moreover, the trend pointed down, with the annual average growth of economic activity coming in at 2.1%, down from January’s 2.3%.