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.
Author: Nihad Ahmed, Economist