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Published: 16 October 2018

Output of the national economy grew August

In August 2018, working-day adjusted output was 2.3 per cent higher than one year before. Seasonally adjusted output in turn rose by 0.2 per cent in August from the month before. According to revised data, working day adjusted output grew in July 2018 by 1.7 per cent (previously 1.5 per cent) from the previous year's July.

Volume of total output 2005 to 2018, 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 grew by around one per cent, secondary production by seven per cent and services by just under one per cent from In August 2017.

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 2018 August, Statistics Finland

Inquiries: Ida Peltonen 029 551 3334, Antti Kosunen 029 551 3613, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Updated 16.10.2018