Finland: The economy growth slows to a four-month low in November
January 15, 2019
Economic activity grew a working-day adjusted 1.8% in November compared to the same month a year earlier, down from the revised 3.2% growth in October, which was previously reported as 2.9%. This latest outturn represents activity growth at a four-month low.
Dynamics were mixed across economic sectors in November, with decelerating growth in services production—which is the largest output category—and secondary production—which includes the manufacturing and construction sectors. On the other hand, primary production, which captures the agriculture, forestry and fishing sectors, saw accelerating output growth in November.
A month-on-month comparison shows that economic activity on a seasonally-adjusted basis decreased 0.3% in November, down from October’s flat reading. Average year-on-year growth in economic activity ticked down to 2.4% in November from 2.5% in October.
Finland GDP Forecast
FocusEconomics Consensus Forecast panelists expect an economic expansion of 2.0% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, the panel sees GDP increasing 1.8%.
Author: Edward Gardner, Economist