Finland GDP

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Finland: Economic activity slows in November

January 15, 2015

In November, economic activity rose a working-day adjusted 0.9% over the same month last year, according to the monthly Trend Indicator of Output. The reading, was down from the 1.2% expansion recorded in October, and mainly reflected that increases in the primary and services sectors more than offset a contraction in the secondary sector, which includes manufacturing and construction.

On a monthly basis, economic output in November contracted 0.5% in seasonally- and working-day adjusted terms, coming in further below October’s 0.1% contraction and marking the worst reading in four months. Annual average growth in economic activity rebounded from October’s minus 0.1% to plus 0.1% in November, marking the largest value since June 2012.

The Central Bank expects the economy to contract 0.1% in 2015 and to expand 1.0% in 2016. FocusEconomics Consensus Forecast panelists are more optimistic and expect GDP to expand 0.7% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel sees GDP increasing 1.3%.


Author: Teresa Kersting, Economist

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Finland GDP Monthly November 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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