Industry in Finland

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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

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-3.0  -1.9  -1.1  3.9  4.2  

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Finland Industry Chart

Finland Industry
Note: Annual variation of industrial output in %.
Source: Statistics Finland.

Finland Facts

Bond Yield0.573.70 %Dec 11
Exchange Rate8.58-0.38 %Dec 11
Stock Market3,7300.0 %Dec 11

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