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Home BUSINESSNational economy output slightly lower in June
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Sun, 16 Aug, 2015 12:07:15 AM
FTimes Report, Aug 16
 
Volume of total output 2005 to 2015, trend and seasonally adjusted series. Source: Trend Indicator of Output 2015 June, Statistics Finland.
Seasonally adjusted output fell by 0.1 per cent in June 2015 from the month before, according to Statistics Finland.
 
Adjusted for working days, output fell by 0.9 per cent from June 2014. Working-day adjusted output decreased in May by 0.7 per cent from May 2014, the revised data show.
 
Working day adjusted primary production grew by six per cent.
 
Secondary production contracted by one per cent and services by good two per cent from June 2014.
 
Working day adjusted change of total output from previous year’s corresponding month, %. Source: Trend Indicator of Output 2015 June, Statistics Finland.
Primary production refers to agriculture, hunting, forestry and fishing while 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.
 
Seasonally adjusted GDP is estimated to have fallen by 0.4 per cent in the second quarter of 2015 from the previous quarter.
 
Flash estimate, seasonally adjusted, at reference year 2010 prices. Source: Trend Indicator of Output 2015 June, Statistics Finland.
According to the series adjusted for working days, GDP was 1.0 per cent down on the corresponding quarter of the year before.
 
It is estimated that the number of the employed has contracted by 1.3 per cent from the second quarter of 2014. The number of hours worked was 0.3 per cent higher than in the same quarter of one year ago, the data show.
 
Intermediate consumption, as well as taxes and subsidies on products are not estimated in the compilation of the quarterly flash estimate, but quarterly GDP is carried forward with a change based on the data of the Trend Indicator of Output.
 
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