Finland: Economic activity decelerates to slowest pace in nearly a year
May 15, 2014
In March, economic activity contracted a working-day adjusted 2.0% over the same month last year according to the monthly Trend Indicator of Output. The reading, which contrasted the 0.4% expansion seen in February, represents the lowest rate since April 2013. The contraction mainly resulted from a drop in the primary and secondary sectors.
On a monthly basis, economic output contracted a seasonally- and working-day adjusted 1.0% in March, which was down from the 0.1% contraction recorded in February. As a consequence of the contraction, annual average growth in economic activity inched down from February’s minus 0.9% to minus 1.0% in March.