Finland: Economic growth picks up slightly in December
Economic activity grew a working-day adjusted 2.7% in December compared to the same month a year earlier, up from the significantly-revised 2.6% growth of November (previously reported: +1.8%). The fastest growing category of economic activity in December was that of primary production, which captures the agriculture, forestry and fishing sectors, although it saw a deceleration in growth compared to November. The second fastest expanding category was secondary production, which includes the manufacturing and construction sectors and saw an acceleration in December versus November. On the other hand, services production, which is the largest output category in Finland, saw growth slow in December.
A month-on-month comparison shows that economic activity on a seasonally-adjusted basis rose 0.5% in December, up from 0.2% in November. Average year-on-year growth in economic activity ticked up to 2.7% in December from 2.6% in November.