Wednesday 9/23/20
RECESSION

Production grew in agriculture but fell in manufacturing, construction

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.

Production grew in agriculture but fell in manufacturing, construction

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.

Output-National-Economy-July-2020

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.

Production grew in agriculture but fell in manufacturing, construction
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