Finland GDP March 2017


Finland: Further slowdown in economic activity in March

May 16, 2017

Finland´s economic activity expanded a working-day adjusted 1.3% over the same month of the previous year, according to the Monthly Trend Indicator of Output. The result marked a substantial slowdown from February´s revised 2.8% expansion (previously reported: +3.0% year-on-year). March´s lower reading was largely driven by a marked slowdown in the agricultural sector along with a slight fall in the growth of the industrial and service sectors.

On a monthly basis, economic activity in March decreased 0.7% in seasonally-adjusted terms. This marks a larger contraction than February´s revised 0.5% contraction (previously reported: -0.1% month-on-month). Despite the annual data suggesting a mild slowdown, the overall trend as indicated by annual average growth in economic activity continues to point upwards, rising from 1.5% in February to 1.6% in March.

The Central Bank expects the domestic economy to expand 1.3% in 2017 and 1.2% in 2018. In line with the Bank´s projections, FocusEconomics Consensus Forecast panelists expect GDP to expand 1.3% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees GDP increasing 1.4%.

Author:, Economist

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Finland GDP Chart

Finland GDP Monthly March 2017 7

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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