Finland GDP July 2018

Finland

Finland: Economic activity growth decelerates in July

September 14, 2018

Economic activity grew a working-day adjusted 1.5% in July compared to the same month last year, down from the revised 2.8% expansion in June (previously reported: +3.0% year-on-year).

The economy observed a broad-based slowdown in July. Services production, the largest output category in Finland, expanded 0.9% in July, down significantly from 2.7% in June. Primary production, which captures the agriculture, forestry and fishing sectors, grew 8.5% in July, down from 9.4% in June. Secondary production, which includes the manufacturing and construction sectors, expanded 3.1% in July, down from 3.7% in June.

A month-on-month comparison shows that economic activity on a seasonally-adjusted basis contracted 0.5% in July, contrasting the revised 0.2% expansion recorded in June (previously reported: +0.3% month-on-month). Average year-on-year growth in economic activity slowed to 2.4% in July from 2.5% in June.

Finland GDP Forecast


The Central Bank expects the economy to expand 2.9% in 2018 and 2.2% in 2019. FocusEconomics Consensus Forecast panelists expect an economic expansion of 2.7% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees GDP increasing 2.2%, which is also unchanged from last month’s forecast.


Author:, Economist

Sample Report

Looking for forecasts related to GDP in Finland? Download a sample report now.

Download

Finland GDP Chart


Finland GDP Monthly July 2018

Note: Year-on-year and annual average variation of working-day adjusted Trend Indicator of Output (TIO) in %.
Source: Statistics Finland and FocusEconomics calculations.


Finland Economic News

  • Finland: Current account surplus widens in June

    August 15, 2019

    The current account balance improved to a EUR 0.8 billion surplus in June from the revised EUR 0.6 billion surplus in May (previously reported: surplus of EUR 0.3 billion). In the 12 months leading up to June, the current account balance totaled a EUR 1.5 billion deficit, marking an improvement over the EUR 3.4 billion deficit in May. The trade balance improved to a EUR 0.4 billion surplus in June from the EUR 0.1 billion surplus in May.

    Read more

  • Finland: Economic activity growth surges in June

    August 14, 2019

    Economic activity grew a working-day adjusted 2.2% in June compared to the same month a year earlier, up from May’s 0.8% increase.

    Read more

  • Finland: Inflation slows in July

    August 14, 2019

    Consumer prices fell 0.3% in July compared to the previous month, contrasting the 0.1% increase in June.

    Read more

  • Finland: Economic growth slows in May

    July 16, 2019

    Economic activity grew a working-day adjusted 0.8% in May compared to the same month a year earlier, down from April’s substantially revised 1.8% growth reading (previously reported: +2.8% year-on-year).

    Read more

  • Finland: Current account balance rebounds in May from April’s record low

    July 15, 2019

    The current account balance swung to a EUR 0.3 billion surplus in May, contrasting the EUR 4.2 billion deficit recorded in April, which represented the lowest reading since contemporary records began in January 2006 due to a massive slump in the primary income balance. In the 12 months leading up to May, the current account balance totaled a EUR 4.0 billion deficit, marking an improvement over the EUR 5.3 billion shortfall in April. The trade balance improved to a EUR 0.2 billion surplus in May, contrasting the EUR 0.2 billion deficit in April.

    Read more

More news

Search form