Industry in Finland
Finland - Industry
Contraction in industrial production slows slightly in March
In March, industrial production fell a working-day adjusted 4.9% over the same month last year. This figure followed the 5.2% drop recorded in February. According to Statistics Finland, industrial output decreased in almost all the main industries in March. A strong decline in the production of electricity and, to a lesser extent, a drop in the metal and the chemical industry, were the main drivers of the contraction.
On a monthly basis, industrial output rose a seasonally-adjusted 0.5%, which was up slightly from the 0.4% expansion registered in February. This modest reading represents the highest growth rate in the past eight months. Meanwhile, annual average growth in industrial production decreased from minus 3.9% in February to minus 4.2% in March.
FocusEconomics Consensus Forecast panelists expect industrial production to grow 1.5% in 2014, which is down 0.7 percentage points over the previous month's estimate. For 2015, the panel sees industrial production accelerating to 3.9%.
Finland - Industry Data
|Industrial Production (annual variation in %)||-3.0||-1.9||-1.1||3.9||4.2|
5 years of economic forecasts for more than 30 economic indicators.
Finland Industry Chart
Source: Statistics Finland.
|Bond Yield||0.01||3.70 %||Jun 19|
|Exchange Rate||8.56||-0.38 %||Jun 20|
|Stock Market||3,944||0.0 %||Jun 20|
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June 14, 2019
The current account balance slumped to a EUR 4.2 billion deficit in April, deteriorating from March’s revised EUR 0.24 billion shortfall (previously reported: EUR 0.47 billion deficit) and representing the lowest reading since contemporary records began in January 2006. The main reason for April’s slump was a massive downturn in the primary income account balance, which was itself caused by a strong increase in investment income debits on the back of international company restructurings at the end of last year. In the 12 months leading up to April, the current account balance totaled a EUR 5.3 billion deficit, representing a deterioration from the EUR 1.9 billion shortfall in March. The trade balance fell to a EUR 0.2 billion deficit in April, contrasting the EUR 0.2 billion surplus in March.
June 14, 2019
Consumer prices fell 0.2% in May compared to the previous month, contrasting the 0.6% rise logged in April.
June 14, 2019
Economic activity grew a working-day adjusted 2.8% in April compared to the same month a year earlier, up from March’s revised 0.9% increase (previously reported: +1.1% year-on-year).
May 29, 2019
Economic growth slowed to 0.2% in seasonally-adjusted quarter-on-quarter terms in Q1 2019, according to a second GDP release by Statistics Finland.
May 15, 2019
The current account balance fell to a EUR 0.47 billion deficit in March, down from February’s revised EUR 0.15 billion shortfall (previously reported: EUR 0.04 billion deficit).