Finland: Economic activity contracts in May
July 15, 2016
In May, economic activity dropped a working-day adjusted 0.3% over the same month last year, according to the Monthly Trend Indicator of Output. The reading marked the largest contraction in seven months and followed April’s revised 0.6% decrease (previously reported: -1.0% year-on-year). May’s decline mainly reflected a drop in the secondary and services sectors of the economy.
On a monthly basis, economic output in May fell 0.6% in seasonally-adjusted terms, which followed April’s 0.3% contraction. The trend was stable as annual average growth in economic activity in May was level with April’s 0.8% increase.