Finland: Economic activity growth decelerates in November
January 13, 2017
In November, Finnish economic activity expanded a working-day adjusted 1.6% over the same month last year, according to the Monthly Trend Indicator of Output. The reading was notably below October’s revised 2.6% increase (previously reported: +2.1% year-on-year). November’s reading mainly reflected strong growth in manufacturing and construction activity, which more than offset a stagnation in the services sector.
On a monthly basis, economic output growth in November dropped 0.3%, contrasting October’s revised 0.4% increase (previously reported: +0.1%). Despite the downturn in activity, the trend continued to point upward, with annual average growth in economic activity at 1.4% in November, which was above October’s 1.2% increase and marked the highest reading in almost five years.
Author: David Ampudia, Economist