Finland GDP


Finland: Economic activity deteriorates in May

July 15, 2015

In May, economic activity contracted a working-day adjusted 1.2% over the same month last year, according to the monthly Trend Indicator of Output. The figure marked the lowest reading in four months and was a deterioration of the revised 0.2% contraction recorded in April (previously reported: -1.2% year-on-year). May’s contraction was driven by decreases in both secondary production and services.

On a monthly basis, economic output fell 0.5% in seasonally- and working-day adjusted terms in May, which followed the 0.8% decreased recorded in April’s revised figure (previously reported: -1.1% month-on-month). Annual average growth in economic activity fell 0.4% in May, which mirrored April’s reading.

The Central Bank expects the economy to contract 0.1% in 2015 and to expand 1.0% in 2016. FocusEconomics Consensus Forecast panelists expect GDP to expand 0.3% in 2015, which is unchanged from last month’s projection. For 2016, the panel sees GDP increasing 1.2%.

Author:, Economist

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Finland GDP Chart

Finland GDP Monthly May 2015

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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