Finland: Industrial production picks up after weak start to the year
April 8, 2011
In February, industrial output grew a working-day adjusted 5.1% over the same month last year, which represented an acceleration compared to the 4.4% increase observed in January. The improvement was underpinned by developments in the manufacturing sector, which expanded 6.2% (January: +5.7% year-on-year). A month-on-month comparison corroborates the improvement suggested by the annual figures, as industrial output grew 1.2% over the previous month in seasonally adjusted terms. In the same vein, the overall trend continues to improve, with annual average growth in industrial production jumping from 6.0% in January to 6.6%. In its latest outlook form December, the Central Bank projected GDP to grow 3.0% in 2011 and 2.5% in 2012.