Finland: Economic activity contracts in June
August 15, 2017
In June, economic activity in Finland contracted a working-day adjusted 0.5% over the same month last year, contrasting May’s 2.8% increase as per the Monthly Trend Indicator of Output released by Statistics Finland. The result was driven by a contraction in the services sector, which was enough to offset solid gains in the agricultural and manufacturing sectors.
A month-on-month comparison shows that economic activity decreased 1.5% in seasonally-adjusted terms in June, contrasting May’s 0.1% increase. As a result, annual average growth in economic activity fell from 2.5% in May to 2.3% in June.
Author: Christopher Mc Innes, Economist