Finland GDP

Finland

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.

The Central Bank expects the economy to expand 0.6% in 2014 and to accelerate to 1.7% in 2015. FocusEconomics Consensus Forecast panelists expect GDP to grow 0.5% this year, which is unchanged from last month’s projection. For 2015, the panel sees GDP expanding at 1.6%.


Author: Teresa Kersting, Economist

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Finland GDP Monthly March 2014

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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