Finland GDP October 2019

Finland

Finland: Economic activity growth moderates in October

December 13, 2019

Economic activity grew a working-day adjusted 1.5% in October from the same month a year earlier, down from September’s revised 2.1% reading (previously reported: +0.8% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release.

The moderation in October came on the back of decreased activity in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which slumped this month and thus weighed on the overall reading. Conversely, activity in the secondary sector—which includes manufacturing and construction—and the services sector both grew in October, although at a slower pace than in September.

A month-on-month comparison showed that economic activity on a seasonally-adjusted basis dipped 0.6% in October, contrasting September’s revised 0.1% increase (previously reported: -0.4% year-on-year). Meanwhile, average annual growth in economic activity was up slightly in October at 1.3% from 1.2% the month prior.

Our panelists expect an economic expansion of 1.1% in 2020, which is unchanged from last month’s forecast, and 1.2% in 2021.


Author:, Economist

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Finland GDP Chart


Finland GDP Monthly October 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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