Finland: Economic activity growth surges in June
August 14, 2019
Economic activity grew a working-day adjusted 2.2% in June compared to the same month a year earlier, up from May’s 0.8% increase. The acceleration was due to stronger growth in both the dominant services sector and the secondary sector, which includes manufacturing and construction. On the other hand, weighing on the acceleration was a significant contraction in the primary sector, which captures the agriculture, forestry and fishing sub-sectors.
A month-on-month comparison shows that economic activity on a seasonally-adjusted basis increased 0.9% in June, contrasting the revised 0.7% decrease in May (previously reported: -0.9% month-on-month). Annual average year-on-year growth in economic activity accelerated to 0.9% in June from 0.8% in May.
Author: Edward Gardner, Economist