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Home BUSINESSEconomic output grows in May
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Thu, 08 Aug, 2013 02:15:03 AM
FTimes Report, August 8
 
Volume of total output 2005 – 2013, trend and seasonally adjusted series. Source - Statistics Finland.
The output of the national economy grew in May 2013 compared to the previous month, but still fell short of the last year’s economic output, according to the data revealed by the Statistics Finland.
 
Seasonally adjusted output grew by 1.2 per cent in May compared to the month before. Adjusted for working days, output fell by 0.8 per cent from the level of the previous year's corresponding month.
 
According to revised data, working-day adjusted output fell in April by 2.2 per cent (previously -4.2 per cent) from April 2012. The revision is caused by the benchmarking of the data to annual national accounts.
 
Secondary production decreased by five per cent from a year ago.
 
Primary production went up by ten per cent from May 2012. Services remained on level with the previous year.
 
 
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.
 
Primary production refers to agriculture, hunting, forestry and fishing.
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