Finland GDP July 2016

Finland

Finland: Economic activity picks up in July

September 15, 2016

In July, economic activity expanded a working-day adjusted 1.5% over the same month last year, according to the Monthly Trend Indicator of Output. The reading marked an acceleration from June’s 0.7% increase and the fastest expansion so far this year. The uptick mainly reflected a surge in secondary production, which more than offset a drop in primary production and a stagnation in services.

On a monthly basis, economic output in July rose 0.5% in seasonally-adjusted terms, which followed June’s 0.6% increase. The trend was stable as annual average growth in economic activity was level with June’s 0.9% growth.

The Central Bank expects the economy to expand 1.1% in both 2016 and 2017. FocusEconomics Consensus Forecast panelists expect GDP to grow 0.9% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees GDP increasing 1.0%.


Author: Teresa Kersting, Economist

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Finland GDP Monthly July 2016

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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