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