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Published: 15 October 2019

Output of the national economy grew in August

Adjusted for working days, output went up by 2.5 per cent in August 2019 from one year back. In August, seasonally adjusted output grew by 0.5 per cent from the month before. According to revised data, working day adjusted output grew in July by 2.5 per cent (previously 1.7 per cent) from July 2018.

Volume of total output 2005 to 2019, 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 some four one per cent and services by roughly two per cent from August 2018.

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 2019 August, Statistics Finland

Inquiries: Antti Kosunen 029 551 3613, Mikko-Waltteri Sihvola 029 551 3062, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Updated 15.10.2019