Domestic Demand in Finland
Finland - Domestic Demand
Economic activity growth surges in June
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. The acceleration was due to stronger growth in both the dominant services sector and the secondary sector, which includes manufacturing and construction. On the other hand, weighing on the acceleration was a significant contraction in the primary sector, which captures the agriculture, forestry and fishing sub-sectors.
A month-on-month comparison shows that economic activity on a seasonally-adjusted basis increased 0.9% in June, contrasting the revised 0.7% decrease in May (previously reported: -0.9% month-on-month). Annual average year-on-year growth in economic activity accelerated to 0.9% in June from 0.8% in May.
The Bank of Finland forecasts GDP growth of 1.6% in 2019. For 2020, the Bank forecasts a 1.5% increase in GDP. Our panelists expect an economic expansion of 1.6% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.4% in 2020.
Finland - Domestic Demand Data
|Domestic Demand (annual variation in %)||-1.1||-0.1||1.2||3.3||2.0|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||-0.18||3.70 %||Jul 31|
|Exchange Rate||8.86||-0.38 %||Jul 31|
|Stock Market||3,909||0.0 %||Jul 31|
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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.
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.
August 14, 2019
Consumer prices fell 0.3% in July compared to the previous month, contrasting the 0.1% increase in June.
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).
July 15, 2019
The current account balance swung to a EUR 0.3 billion surplus in May, contrasting the EUR 4.2 billion deficit recorded in April, which represented the lowest reading since contemporary records began in January 2006 due to a massive slump in the primary income balance. In the 12 months leading up to May, the current account balance totaled a EUR 4.0 billion deficit, marking an improvement over the EUR 5.3 billion shortfall in April. The trade balance improved to a EUR 0.2 billion surplus in May, contrasting the EUR 0.2 billion deficit in April.