Home > Statistics > Trend Indicator of Output > 2008 > December > Output of the national economy fell in December

Published: 13 February 2009

Output of the national economy fell in December

Seasonally adjusted output fell by 0.6 per cent in December from the month before. Adjusted for working days, output fell by 4.8 per cent from December 2007. According to the original series, output was 2.1 per cent smaller than in December of the year before. December 2008 had three working days more than the corresponding month of the previous year. The data derive from Statistics Finland's Trend Indicator of Output. The data are preliminary and will become revised later.

Revised data also indicate that seasonally-adjusted output fell in November by 1.9 per cent from the month before. Output adjusted for working days fell by 3.9 per cent (previously -4.0 per cent) and the original series fell by 6.1 per cent (previously -6.0 per cent) from November 2007.

Volume of total output 2003 - 2008, trend and seasonally adjusted series

The series of the Trend Indicator of Output are seasonally adjusted with the Tramo/Seats method. The latest observations of the series adjusted for seasonal and random variation (seasonally adjusted and trend series) become revised with new observations in seasonal adjustment methods.

Working day adjusted change of total output from previous year's corresponding month, %

According to the working day adjusted series, primary production is estimated to have contracted by just short of 17 per cent from December 2007. Secondary production contracted by a good 7 per cent and services by 3 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 fishery.

Source: Trend Indicator of Output 2008, December. Statistics Finland

Inquiries: Mr Veli-Pekka Karvinen +358 9 1734 2667, Mr Samu Hakala +358 9 1734 3756, kansantalous.suhdanteet@stat.fi

Director in charge: Mr Ari Tyrkkö

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Last updated 13.2.2009