Finland GDP

Finland

Finland: Economic activity accelerates to fastest pace in two and a half years

June 13, 2014

In April, economic activity rose a working-day adjusted 1.2% over the same month last year according to the monthly Trend Indicator of Output. The reading, which contrasted the 1.1% contraction seen in March, represented the highest pace of growth since December 2011. The expansion mainly resulted from an increase in services and in the secondary sector.

On a monthly basis, economic output increased a seasonally- and working-day adjusted 0.8% in April, which contrasted the 0.1% contraction recorded in March. As a consequence of the expansion, annual average growth in economic activity increased from March’s minus 0.8% to minus 0.5% in April.

The Central Bank expects the economy to expand 0.6% in 2014 and to accelerate to 1.7% in 2015. FocusEconomics Consensus Forecast panelists expect GDP to grow 0.4% this year, which is down 0.1 percentage points from last month’s projection. For 2015, the panel sees GDP expanding at 1.5%.


Author: Teresa Kersting, Economist

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Finland GDP Monthly April 2014

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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