The production of the Finnish economy continued to fall in July, which indicates a possible decline also in the third quarter of the year.
According to Statistics Finland's figures, output of the national economy adjusted for working days fell by 2.8% in July from one year back.
The hopeful news is that the downward trend in monthly terms may have bottomed out and stopped: seasonally adjusted output grew by 0.9% from the month before.
Source: Statistics Finland.
Growth in agriculture
Working day adjusted primary production grew by around 9%. Primary production refers to agriculture, hunting, forestry and fishing.
Secondary production, which includes manufacturing and construction, fell by some 5%.
Production of services, which comprise trade, hotels and restaurants, transport, real estate, renting, business activities and research services, dropped by about 3% from July 2019.