Home > Statistics > Trend Indicator of Output > 2015 > October > Output of the national economy declined in October

Published: 15 December 2015

Output of the national economy declined in October

Seasonally adjusted output fell by 0.4 per cent in October from the month before. Adjusted for working days, output was 1.8 per cent lower than one year before. According to revised data, working-day adjusted output decreased in September by 1.6 per cent (previously -2.6 per cent) from September 2014. The revision is caused by the benchmarking of the data to quarterly accounts.

Volume of total output 2005 to 2015, 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, %

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.

Source: Trend Indicator of Output 2015 October, Statistics Finland

Inquiries: Ida Peltonen 029 551 3334, Veli-Pekka Karvinen 029 551 2667, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Updated 15.12.2015