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Finland: Economic activity improves in August

October 15, 2014

In August, economic activity recorded a working-day adjusted 0.6% drop over the same month last year, according to the monthly Trend Indicator of Output. The reading, which was an improvement over the 1.2% contraction recorded in July, mainly reflected a decrease in the secondary sector that more than offset an increase in production in the primary sector and in services.

On a monthly basis, economic output recorded zero growth in seasonally- and working-day adjusted terms in August, which was above July’s 0.2% contraction. Annual average growth in economic activity remained unchanged at July’s 0.4% drop.

The Central Bank expects the economy to tally zero growth this year and to expand 1.4% in 2015. FocusEconomics Consensus Forecast panelists also expect GDP to record zero growth this year, which is down 0.2 percentage points from last month’s projection. For 2015, the panel sees GDP increasing 0.9%.


Author: Angela Bouzanis, Senior Economist

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Finland GDP Chart


Finland GDP Monthly August 2014

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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