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Sun, 16 Nov, 2014 12:05:57 AM FTimes Report, Nov. 16  Volume of total output 2005 to 2014, trend and seasonally adjusted series. Source: Trend Indicator of Output 2014 September, Statistics Finland. Seasonally adjusted output decreased by 0.3 per cent in September from the month before.
Adjusted for working days, the output decreased by 1.3 per cent year-on-year, according to Statistics Finland’s data.
The working day correction affected the growth figures of September considerably as, according to the original series, output of the national economy grew by 1.7 per cent from one year ago in September, the statistics show.
Working day adjusted output decreased in August by 0.7 per cent from August 2013, according to revised data.
Working day adjusted change of total output from previous year’s corresponding month, %. Source: Trend Indicator of Output 2014 September, Statistics Finland. Primary production went up by two per cent from September 2013. By contrast, secondary production decreased by close on four per cent and services by just under one-half of a per cent.
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.
Primary production refers to agriculture, forestry and fishing.
Flash estimate, seasonally adjusted, at reference year 2010 prices. Source: Trend Indicator of Output 2014 September, Statistics Finland. Seasonally adjusted GDP is estimated to have grown by 0.2 per cent from the previous quarter.
In the monthly time series, the effect of the working days adjustment is larger than in the quarterly time series of GDP.
In the third quarter of 2014 it is visible that the working days and seasonally adjusted changes of the monthly time series indicate a more negative development in the national economy than the corresponding quarterly data.
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