Finland GDP October 2016

Finland

Finland: Economic activity growth accelerates in October

December 15, 2016

In October, economic activity in Finland expanded a working-day adjusted 2.1% over the same month last year, according to the Monthly Trend Indicator of Output. The reading was slightly above September’s revised 1.9% increase (previously reported: +1.5% year-on-year). October’s reading mainly reflected broad-based growth in all sectors of the economy, with secondary production, which comprises manufacturing and construction, recording the largest expansion.

On a monthly basis, economic output growth in October rose a tepid 0.1%, which was notably below September’s revised 0.7% increase (previously reported: 0.0%). Despite the deceleration, the trend continued to point upward, with annual average growth in economic activity at 1.2% in October, which was up from September’s 0.9% increase and marked the highest reading in over five years.

The Central Bank expects the economy to expand 1.3% in 2017 and 1.2% in 2018. FocusEconomics Consensus Forecast panelists expect GDP to expand 0.9% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees GDP increasing 1.0%.


Author:, Economist

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