Finland GDP


Finland: Economic activity falls in May

July 15, 2014

In May, economic activity fell a working-day adjusted 0.2% over the same month last year according to the monthly Trend Indicator of Output. The reading, which contrasted the 1.9% expansion recorded in April, mainly reflected a decrease in the primary sector, which offset an increase in production in the secondary sector while services were unchanged.

On a monthly basis, economic output decreased a seasonally- and working-day adjusted 0.5% in May, which contrasted the 1.6% expansion recorded in April. However, annual average growth in economic activity inched up from April’s minus 0.3% to minus 0.2% in May, marking the highest pace of growth since June 2012.

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 0.1% this year, which is down 0.3 percentage points from last month’s projection. For 2015, the panel sees GDP expanding at 1.3%.

Author: Teresa Kersting, Economist

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Finland GDP Chart

Finland GDP Monthly May 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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