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Finland economy falls by 0.2% in Dec 2015

Finland economy falls by 0.2% in Dec 2015

HELSINKI: Seasonally adjusted output of the national economy fell by 0.2 per cent in December 2015 from the month before. Adjusted for working days, the output was, however, 0.6 per cent higher than one year before, according to Statistics Finland’s data.

The working-day adjusted output went up in November by 0.2 per cent (previously -0.5 per cent) from November 2014. The data are first collected from large enterprises and the data for the industries are continuously updated as new data is collected on smaller enterprises.

Working day adjusted primary production went down by two per cent and services by one per cent from December 2014. Secondary production grew by five per cent, the statistics show. Primary production refers to agriculture, hunting, forestry and fishing and 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.  Seasonally adjusted GDP is estimated to have fallen by 0.1 per cent from the previous quarter.

According to the series adjusted for working days, GDP was 0.3 per cent down on the corresponding quarter of the year before. It is estimated that the number of the employed is on the same level in the fourth quarter of 2015 as one year previously. The number of hours worked was 0.4 per cent lower than in the same quarter of one year ago.