Finland GDP November 2016

Finland

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.

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 1.1% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel sees GDP increasing 1.2%.


Author:, Economist

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Finland GDP Monthly November 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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