Domestic Demand in Finland
Finland - Domestic Demand
Economic activity growth moderates in July after surging in June
Economic activity grew a working-day adjusted 1.7% in July compared to the same month a year earlier, down from June’s revised 2.5% increase. Increased activity in July was due to strong growth in the secondary sector, which includes manufacturing and construction, and modest growth in the services sector. On the other hand, the primary sector, which captures the agriculture, forestry and fishing sub-sectors, contracted.
A month-on-month comparison shows that economic activity on a seasonally-adjusted basis decreased 0.8% in July, contrasting June’s revised 1.1% increase (previously reported: +0.9% month-on-month). Meanwhile, average year-on-year growth in economic activity accelerated to 1.0% in July from 0.9% in June.
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||-0.35||3.70 %||Sep 04|
|Exchange Rate||9.03||-0.38 %||Sep 04|
|Stock Market||3,879||0.0 %||Sep 04|
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September 13, 2019
Economic activity grew a working-day adjusted 1.7% in July compared to the same month a year earlier, down from June’s revised 2.5% increase.
September 13, 2019
Consumer prices rose 0.4% in August compared to the previous month, contrasting the 0.3% decrease in July.
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).
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.