Finland GDP June 2017

Finland

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.

The Central Bank expects the domestic economy to expand 2.1% in 2017 and 1.7% in 2018. FocusEconomics Consensus Forecast panelists expect a much lower expansion, forecasting GDP to expand 1.4% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel sees GDP increasing 1.5%.


Author:, Economist

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Finland GDP Monthly June 2017

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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