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Finland Economic Activity May 2023

Finland: Monthly economic activity growth gains momentum in May

Economic activity increased 0.8% month-on-month in seasonally adjusted terms in May (April: +0.1% mom). Looking at the details of the release, the secondary sector rebounded in May, while output in the services sector grew faster. In contrast, the primary sector—which includes the agriculture, hunting, forestry and fishing subsectors—swung to contraction.

On an annual basis, economic activity rose at a quicker rate of 1.9% in May (April: +1.3% yoy). Meanwhile, annual average economic activity growth fell to 1.3% in May (April: +1.4%), pointing to a worsening trend.

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