Finland GDP August 2016


Finland: Economic activity drops in August

October 14, 2016

In August, economic activity fell a working-day adjusted 0.1% over the same month last year, according to the Monthly Trend Indicator of Output. This was a deterioration from July’s 2.0% increase and the steepest drop in 4 months. This mainly reflected a decline in the services sector, while primary production was stable and secondary production expanded.

On a monthly basis, economic output in August fell 1.2% in seasonally-adjusted terms, contrasting July’s 0.8% increase. The trend was stable as annual average growth in economic activity was level with July’s 0.3% growth.

The government expects the economy to expand 1.1% in 2016 and 0.9% in 2017. FocusEconomics Consensus Forecast panelists expect GDP to grow 0.9% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees GDP increasing 1.0%, which is also unchanged from last month’s estimate.

Author: Teresa Kersting, Economist

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Finland GDP Chart

Finland GDP Monthly August 2016

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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