Friday. 24.05.2024

The production of the Finnish economy increased in December in year-on-year terms, but contracted compared to November, according to Statistics Finland's data.

Adjusted for working days, output went up by 0.5% in December 2019 from one year back. In turn, seasonally adjusted output fell by 0.4% from one month before.

Working day adjusted primary production decreased by around 3.3% from the year before. Secondary production grew by about 0.8% and services by around 0.3% from December 2018.


Source: Statistics Finland.

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.

Seasonally adjusted GDP is estimated to have fallen by 0.4% per cent from the previous quarter. But compared to the corresponding quarter of the year before, adjusted for working days GDP was 1.4% up on the corresponding quarter.

It is estimated that the number of the employed has increased by around 0.6% from one year ago. Adjusted for working days, the number of hours worked was around one per cent higher than in the same quarter of one year ago.

National economy output decreased in December from previous month