Published: 8 December 2006
GDP grew by 0.9 per cent in the third quarter of 2006
In the third quarter of 2006, the volume of Finland's GDP increased by 0.9 per cent form the previous quarter. Compared with the third quarter of 2005, GDP was up by 5.4 per cent, and the respective seasonally adjusted change in it from twelve months back was 5.8 per cent. This year, the third quarter had one less working days than in 2005. According to revised data, in the January to September period GDP grew by 6 per cent from last year's corresponding time period. The data derive from preliminary national accounts compiled by Statistics Finland.
The output of the national economy was increased in the third quarter of the year by all demand components: exports, household consumption and investments. In the July to September period households'' consumption expenditure increased by good 3 per cent from twelve months back. Purchases of clothing, footwear, furniture and especially household appliances and electronics were plentiful. Fixed investments grew by just short of 5 per cent. Construction investments grew by just under 3 per cent and investments in machinery and equipment by around 10 per cent. Imports went up by 6 per cent and the volume of exports by 8 per cent from one year earlier.
Gross domestic product by quarter at 2000 prices
The calculation method of value added has been revised in quarterly national accounts. Value added by industry is now calculated by deducting intermediate consumption from output.
At the same time, the fixed base year was changed into a varying one where the base year is always the preceding year but released data are expressed at the prices of the reference year 2000.
The data for previous quarters are also always revised when data are released for a new quarter. Quarterly data continue to be revised until final annual accounts data are published at the lag of around two years.
Source: National Accounts 2006, 3rd quarter. Statistics Finland
Inquiries: Mr Erkki Lääkäri +358 9 1734 3355, kansantalous.suhdanteet@stat.fi
Director in charge: Mr Ari Tyrkkö
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Last updated 8.12.2006
Official Statistics of Finland (OSF):
Quarterly national accounts [e-publication].
ISSN=1797-9765. 3rd quarter 2006. Helsinki: Statistics Finland [referred: 28.12.2024].
Access method: http://www.stat.fi/til/ntp/2006/03/ntp_2006_03_2006-12-08_tie_001_en.html