Finland: Economic activity contracts in August
October 15, 2015
In August, economic activity contracted a working-day adjusted 2.1% over the same month last year, according to the monthly Trend Indicator of Output. The figure was weaker than the 0.5% expansion recorded in July. August’s contraction was driven by a decrease in primary, secondary and goods and services output.
On a monthly basis, economic output recorded a 2.7% contraction in seasonally-adjusted terms in August, which was below the revised 0.2% decrease recorded in July (previously reported: 0.0% month-on-month) and marked the lowest figure since December 2012. Annual average growth in economic activity in August was stable at July’s reading of minus 0.1%.
Author: Robert Hill, Economist