Wednesday 9/29/21
ECONOMY

Finland production and employment increased in the second quarter

GDP is estimated to have grown 2% from the previous quarter and 7.4% compared to one year ago

Prime Minister Sanna Marin speaks to the media following her return to government work after the summer break. Photo: Jussi Toivanen/Vnk.
Prime Minister Sanna Marin speaks to the media following her return to government work after the summer holiday. Photo: Jussi Toivanen/Vnk.

In June, the Finnish economy's output adjusted for working days increased 9.7% year-on-year and 0.8% from the previous month, Statistics Finland reported.

According to revised data, working day adjusted output grew 8.9% in May (previously 9%) from one year before.

Screenshot 2021-08-17 at 12-21-55 Statistics Finland - Trend Indicator of OutputSource: Statistics Finland.

Working day adjusted primary production (agriculture, hunting, forestry and fishing) grew around 2%.

Secondary production (manufacturing and construction) increased about 4% and services around 13% from June 2020.

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 growth

In the second quarter of 2021, Finland's seasonally adjusted Gross Domestic Product (GDP) is estimated to have grown 2% from the previous quarter and 7.4% compared to the year before.

It is estimated that the number of the employed workforce has increased by around 3.9% from one year ago. Adjusted for working days, the number of hours worked has grown by around 5.4% from the corresponding quarter of one year ago.

The data are based on preliminary data of the Trend Indicator of Output.

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