Finland GDP January 2018

Finland

Finland: Growth in economic activity slows in January

March 16, 2018

Economic activity grew a working-day adjusted 0.9% in January compared to the same month last year, down from December’s revised growth of 2.7% (previously reported: +3.6% year-on-year), according to the latest monthly Trend Indicator of Output released by Statistics Finland.

The deceleration in year-on-year growth in economic activity in January was largely due to a weaker expansion in services production, the most significant form of production in Finland, and a contraction in primary production, which includes agriculture, hunting, forestry, and fishing activity. Services production increased 0.6%, much lower than December’s growth rate of 3.0%. Primary production suffered a contraction of 2.5%, worse than December’s contraction of 2.1%. Meanwhile, secondary production grew 1.7% (December: +1.2% yoy).

A month-on-month comparison shows that economic activity, on a seasonally-adjusted basis, was flat in January, marking a deterioration from December’s 0.1% growth. Annual average growth in economic activity was 3.0% in January, down from December’s 3.1%.

Finland GDP Forecast


The Central Bank expects the economy to expand 2.5% in 2018 and 1.5% in 2019. FocusEconomics Consensus Forecast panelists expect an economic expansion of 2.4% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees GDP increasing 2.1%.


Author:, Economist

Sample Report

Looking for forecasts related to GDP in Finland? Download a sample report now.

Download

Finland GDP Chart


Finland GDP Monthly January 2018

Note: Year-on-year and annual average variation of working-day adjusted Trend Indicator of Output (TIO) in %.
Source: Statistics Finland and FocusEconomics calculations.


Finland Economic News

  • Finland: Growth holds steady in Q2; government proposes higher spending in 2020

    August 30, 2019

    A second GDP release revealed the economy grew a revised 0.5% in Q2 2019 in seasonally-adjusted quarter-on-quarter terms (previously reported: +0.9% quarter-on-quarter), which was unchanged from Q1’s revised figure of 0.5% (previously reported: +0.6% quarter-on-quarter).

    Read more

  • Finland: Current account surplus widens in June

    August 15, 2019

    The current account balance improved to a EUR 0.8 billion surplus in June from the revised EUR 0.6 billion surplus in May (previously reported: surplus of EUR 0.3 billion). In the 12 months leading up to June, the current account balance totaled a EUR 1.5 billion deficit, marking an improvement over the EUR 3.4 billion deficit in May. The trade balance improved to a EUR 0.4 billion surplus in June from the EUR 0.1 billion surplus in May.

    Read more

  • Finland: Economic activity growth surges in June

    August 14, 2019

    Economic activity grew a working-day adjusted 2.2% in June compared to the same month a year earlier, up from May’s 0.8% increase.

    Read more

  • Finland: Inflation slows in July

    August 14, 2019

    Consumer prices fell 0.3% in July compared to the previous month, contrasting the 0.1% increase in June.

    Read more

  • Finland: Economic growth slows in May

    July 16, 2019

    Economic activity grew a working-day adjusted 0.8% in May compared to the same month a year earlier, down from April’s substantially revised 1.8% growth reading (previously reported: +2.8% year-on-year).

    Read more

More news

Search form