Finland GDP April 2019

Finland

Finland: Economic growth jumps in April on resurgent manufacturing and construction

June 14, 2019

Economic activity grew a working-day adjusted 2.8% in April compared to the same month a year earlier, up from March’s revised 0.9% increase (previously reported: +1.1% year-on-year). The headline reading was supported by a sharp increase in secondary production, which captures the manufacturing and construction sectors. In addition, services output increased, albeit at a slower pace than in March. On the other hand, primary production, which includes output in the agriculture, forestry and fishing sectors, fell steeply.

A month-on-month comparison shows that economic activity on a seasonally-adjusted basis rose 0.6% in April, contrasting March’s revised 0.2% fall (previously reported: -0.3% year-on-year). Annual average year-on-year growth in economic activity accelerated to 1.9% in April from March’s 1.7%.

In June, the Bank of Finland released fresh forecasts for economic growth this year. It revised down it’s growth forecast from the 1.9% it expected in December to 1.6%. For 2020, the Bank downgraded its growth forecast from 1.7% to 1.5%. Our panelists expect an expansion of 1.7% in 2019, which is unchanged from last month’s forecast, and 1.4% in 2020.


Author:, Economist

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Finland GDP Monthly April 2019

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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