Finland GDP May 2017

Finland

Finland: Economic activity moderates in May

July 14, 2017

In May, economic activity in Finland expanded a working-day adjusted 2.5% over the same month last year, down from April’s 3.3% increase (previously reported: +3.8%) as per the Monthly Trend Indicator of Output released by Statistics Finland. The result was driven by an increase in output in the manufacturing and construction sector while the agricultural experienced a decline.

A month-on-month comparison shows that economic activity decreased 0.2% in seasonally-adjusted terms, contrasting April’s 0.4% increase. Nevertheless, annual average growth in economic activity increased from 2.4% in April (previously reported: +2.2%) to 2.5% in April.

The Central Bank expects the domestic economy to expand 2.1% in 2017 and 1.7% in 2018. FocusEconomics Consensus Forecast panelists expect a much lower expansion, forecasting GDP to expand 1.4% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel sees GDP increasing 1.5%.


Author:, Economist

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Finland GDP Monthly May 2017

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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