Finland GDP

Finland

Finland: Economic activity continues to contract in July

September 16, 2014

In July, economic activity fell a working-day adjusted 0.8% over the same month last year, according to the monthly Trend Indicator of Output. The reading, which was down further from the 0.3% contraction recorded in June, mainly reflected a decrease in the secondary sector that more than offset an increase in production in the primary sector. Services remained unchanged over the same month last year.

On a monthly basis, economic output recorded zero growth in seasonally- and working-day adjusted terms in July, which came in below the 0.5% expansion recorded in June. Annual average growth in economic activity inched down from June’s minus 0.3% to minus 0.4% in July, marking the lowest level since March.

The Central Bank expects the economy to tally zero growth this year and to expand 1.4% in 2015. FocusEconomics Consensus Forecast panelists also expect GDP to record zero growth this year, which is down 0.1 percentage points from last month’s projection. For 2015, the panel sees GDP increasing 1.1%.


Author: Teresa Kersting, Economist

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Finland GDP Monthly July 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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