National economy output declines in October | business

Thu, 17 Dec, 2015 12:08:06 AM

National economy output declines in October

FTimes Report, Dec 17

Volume of total output 2005 to 2015, trend and seasonally adjusted series. Source: Trend Indicator of Output 2015 October, Statistics Finland.

Seasonally adjusted output fell by 0.4 per cent in October from the month before, according to Statistics Finland’s revised.

Adjusted for working days, output was 1.8 per cent lower than one year before.

Working-day adjusted output decreased year-on-year in September by 1.6 per cent (previously -2.6 per cent). The revision is caused by the benchmarking of the data to quarterly accounts.

Working day adjusted change of total output from previous year’s corresponding month, %. Source: Trend Indicator of Output 2015 October, Statistics Finland.

Working day adjusted primary production remained on level with the previous year. Secondary production decreased by three per cent and services by one per cent from October 2014.

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.

Finland Times