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.