Tuesday. 21.01.2020
El tiempo

Output of the national economy grew in June

Seasonally adjusted output rose by 0.9% from the previous month. According to Statistics Finland, seasonally adjusted GDP also increased by 0.9% in the second quarter 2019.

Output of the national economy grew in June

Adjusted for working days, industrial output went up by 2.2 per cent in June 2019 year-on-year. In June, seasonally adjusted output rose by 0.9 per cent from the previous month. According to Statistics Finland revised data, working day adjusted output grew in May 2019 by 0.8 per cent (previously 0.8 per cent) from May 2018.


Source: Statistics Finland.

Working day adjusted primary production decreased by around seven and a half per cent. Secondary production grew by around two per cent and services by around two and a half per cent from June 2018.

Primary production refers to agriculture, hunting, forestry and fishing. Secondary production includes manufacturing and construction. Services comprise trade, hotel and restaurant activities, transport and business activities, as well as real estate, renting and research services, financial intermediation and insurance, and public services.

GDP and employment estimated to have grown

Seasonally adjusted GDP is estimated to have risen by 0.9 per cent from the previous quarter.

According to the series adjusted for working days, GDP was 1.8 per cent up on the corresponding quarter of the year before. It is estimated that the number of the employed has increased by around 0.9 per cent from one year ago. Adjusted for working days, the number of hours worked was approximately on level with the corresponding quarter one year ago.

The data are based on preliminary data of the Trend Indicator of Output. The next quarterly national accounts with more detailed data will be published on 30 August 2019.