Home > Statistics > Trend Indicator of Output > 2014 > July > Output of the national economy diminished in July from the year before

Published: 16 September 2014

Output of the national economy diminished in July from the year before

Seasonally adjusted output remained in July on level with the previous month. Adjusted for working days, output was 0.8 per cent lower than in the previous year. According to revised data, working day adjusted output decreased in June by 0.3 per cent from June 2013 (previously +0.1%).

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 up and secondary production went down by four per cent from July 2013. Services remained on level with the year before.

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 July, Statistics Finland

Inquiries: Samu Hakala 029 551 3756, Pasi Koikkalainen 029 551 3332, kansantalous.suhdanteet@stat.fi

Director in charge: Leena Storgårds

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Updated 16.9.2014