Finland GDP

Finland

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.

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 0.1% this year, which is unchanged from last month’s projection. For 2015, the panel sees GDP expanding at 1.3%.


Author: Teresa Kersting, Economist

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Finland GDP Monthly June 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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