Finland GDP January 2020

Finland

Finland: Economic activity starts year on strong footing

March 13, 2020

Economic activity grew a working-day adjusted 1.7% in January from the same month a year earlier, up from December’s revised 0.6% reading (previously reported: +0.5% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release.

The acceleration in January, which marked the fastest increase in four months, was driven by strong growth in the secondary—which includes manufacturing and construction—and services sectors, both of which gained considerable speed from the prior month’s readings. Contrastingly, the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—posted a contraction for the fourth month running.

A month-on-month comparison showed that economic activity on a seasonally-adjusted basis expanded 0.9% in January, an 11-month high, having grown a revised 0.3% in December (previously reported: -0.4% yoy). Meanwhile, average annual growth in economic activity was marginally up at 1.3% in January from 1.2% in December.

Our panelists forecast economic expansion of 1.1% in 2020, which is unchanged from last month’s forecast, and 1.1% again in 2021.


Author:, Economist

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Finland GDP Chart


Finland GDP Monthly January 20 20

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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