Home > Statistics > Trend Indicator of Output > 2014 > October > Output of the national economy decreased in October 2014

Published: 16 December 2014

Output of the national economy decreased in October 2014

Seasonally adjusted output decreased by 0.2 per cent in October from the month before. However, adjusted for working days, output went up by 0.8 per cent from the level of October 2013.According to revised data, working day adjusted output increased in September by 0.7 per cent from September 2013 (previously -1.3%). The revision was caused by the benchmarking of the data to quarterly accounts.

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 by three per cent and services by close on two per cent from October 2013. By contrast, secondary production decreased by two 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, hunting, forestry and fishing.

In connection with this release, the indicator for the value added in agriculture was revised. Now the indicator for the value added in agriculture is divided more evenly within the year because the output from cereal production is recoded based on the costs involved in the production process. Thus, the value of the grain crop is not merely directed at the third quarter but is divided more evenly throughout the year in the same proportion as the costs of cereal production are divided. The change is also visible in the time series of the value added in primary production and the value added in the entire economy. The change of the indicator only specifies seasonal variation within the year; value added at annual level does not change.

Source: Trend Indicator of Output 2014 October, Statistics Finland

Inquiries: Veli-Pekka Karvinen 029 551 2667, Pasi Koikkalainen 029 551 3332, kansantalous.suhdanteet@stat.fi

Director in charge: Leena Storgårds

Publication in pdf-format (198.9 kB)

Tables

Tables in databases

Pick the data you need into tables, view the data as graphs, or download the data for your use.

• Database tables and their variables
• Archived tables

Revisions in these statistics

• Revisions in these statistics (16.12.2014)

---

Updated 16.12.2014