Finland GDP August 2019


Finland: Economic activity growth holds up in August

October 15, 2019

Economic activity grew a working-day adjusted 2.5% in August compared to the same month a year earlier, matching July’s revised reading (previously reported: +1.7% year-on-year). Growth in August was supported by increased activity in all three of the major activity sectors: the primary sector, which captures the agriculture, forestry and fishing sub-sectors; the secondary sector, which includes manufacturing and construction; and the services sector.

A month-on-month comparison shows that economic activity on a seasonally-adjusted basis increased 0.5% in August, contrasting July’s revised 0.3% decrease (previously reported: -0.8% month-on-month). Meanwhile, average year-on-year growth in economic activity accelerated to 1.3% in August from 1.2% in July.

For 2020, the Bank forecasts a 1.5% increase in GDP. Our panelists expect an economic expansion of 1.2% in 2020, which is down 0.2 percentage points from last month’s forecast, and 1.3% in 2021.

Author:, Economist

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Finland GDP Chart

Finland GDP Monthly August 2019

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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