Finland: Q3 preliminary data shows acceleration in GDP
November 14, 2013
According to preliminary data based on the Trend Indicator of Output (TIO) Statistics Finland released on 14 November, GDP expanded a seasonally-adjusted 0.4% over the previous quarter in Q3 (Q2: +0.2% quarter-on-quarter). The statistical office also reported that, per the working-day adjusted series, GDP was flat in Q3, marking an improvement over the 0.7% drop tallied in Q2. More complete and detailed information will be published on 5 December.
According to its bi-annual Economic Outlook report from June, the Central Bank expects the overall economy to contract 0.8% this year, before rebounding to a 0.7% expansion next year. FocusEconomics Consensus Forecast panelists expect GDP to contract 0.6% this year, which is down 0.1 percentage points from last month's projection. For 2014, the panel sees GDP expanding 1.3%, which is unchanged from last month's estimate.