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.
Author: Robert Hill, Economist