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.
Author: Edward Gardner, Economist