Finland GDP


Finland: Economic activity contracts in April

June 15, 2015

In April, economic activity contracted a working-day adjusted 1.2% over the same month last year, according to the monthly Trend Indicator of Output. The figure marked the lowest reading in four months. The reading contrasted the revised 0.9% increase recorded in March (previously reported: +1.4% year-on-year). April’s contraction was driven by decreases in both secondary and primary production, as well as in services.

On a monthly basis, economic output fell 1.1% in seasonally- and working-day adjusted terms in April, which contrasted the 0.5% increase recorded in March’s revised figure (previously reported: +0.0% month-on-month). April’s reading was the lowest in two years. Annual average growth in economic activity fell 0.1% in April, which contrasted March’s 0.1% growth.

The Central Bank expects the economy to contract 0.1% in 2015 and to expand 1.0% in 2016. FocusEconomics Consensus Forecast panelists expect GDP to expand 0.5% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel sees GDP increasing 1.4%.

Author:, Economist

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Finland GDP Chart

Finland GDP Monthly April 2015

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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