Finland: Growth economic activity slows in July
September 15, 2015
In July, economic activity expanded a working-day adjusted 0.5% over the same month last year, according to the monthly Trend Indicator of Output. The figure was weaker than the revised 1.4% expansion recorded in June (previously reported: -0.9% year-on-year). July’s expansion was driven by an increase in the services sector, while both primary and secondary production decreased.
On a monthly basis, economic output recorded a flat reading in seasonally- and working-day adjusted terms in July, which was below the revised 2.6% increase recorded in June (previously reported: -0.1% month-on-month). Annual average growth in economic activity fell 0.1% in July, marking the highest reading since July 2012 (June: -0.2% 12-month-average).
Author: Robert Hill, Economist