Output of the national economy fell in May 2014

Seasonally adjusted output fell by 0.5 per cent in May from the month before. Adjusted for working days, output fell by 0.1 per cent from the level of the previous year. May 2014 had one working day less than May 2013. Unadjusted for working days, the original series was 0.9 per cent lower than in the year before.

Volume of total output 2005 to 2014, 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. Revisions especially at turning points of economic trends may be significant, which should be taken into consideration when using seasonally adjusted and trend data.

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

Primary production went down by nearly one per cent from May 2013. Secondary production increased by close on two per cent. Services remained on level with the previous year.

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.

Source: Trend Indicator of Output 2014 May, Statistics Finland

Inquiries: Veli-Pekka Karvinen 029 551 2667, Samu Hakala 029 551 3756, kansantalous.suhdanteet@stat.fi

Director in charge: Leena Storgårds

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Updated 15.7.2014

Referencing instructions:

Official Statistics of Finland (OSF): Trend Indicator of Output [e-publication].
ISSN=1798-5439. May 2014. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ktkk/2014/05/ktkk_2014_05_2014-07-15_tie_001_en.html