Finland: Economic activity deteriorates in October
December 14, 2015
In October, economic activity contracted a working-day adjusted 1.8% over the same month last year, according to the monthly Trend Indicator of Output. The figure was weaker than the revised 1.6% contraction recorded in August (previously reported: -2.6% year-on-year) and marked the largest contraction since April 2013. October’s contraction reflected a decrease in the secondary production sector, as well as services output.
On a monthly basis, economic output in October recorded a 0.4% contraction in seasonally-adjusted terms, which was a slight deterioration over September’s revised reading of a 0.3% decrease (previously reported: -0.7% month-on-month). Annual average growth in economic activity fell from a 0.3% contraction in September to a 0.5% decrease in October.
Author: Robert Hill, Economist