Finland: Economic activity continues to contract in June
August 14, 2014
In June, economic activity fell a working-day adjusted 0.6% over the same month last year according to the monthly Trend Indicator of Output. The reading, which was down further from the 0.5% contraction recorded in May, mainly reflected a decrease in the secondary sector that offset an increase in production in the primary sector and in services.
On a monthly basis, economic output increased a mild seasonally- and working-day adjusted 0.1% in June, which contrasted the 0.6% contraction recorded in May. Annual average growth in economic activity edged up from May’s minus 0.7% to minus 0.4% in June, marking the highest level since July 2012.