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Published: 15 October 2020

Output of the national economy fell in August

Adjusted for working days, output fell by 3.3 per cent in August 2020 from one year back. Seasonally adjusted output fell by 0.1 per cent in August from the month before. According to revised data, working day adjusted output fell in July 2020 by 2.7 per cent (previously -2.8 per cent) from the previous year's July.

Volume of total output 2005 to 2020, trend and seasonally adjusted series

Volume of total output 2005 to 2020, 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 change of total output from previous year’s corresponding month, %

Working day adjusted primary production fell by around 13 per cent, secondary production by some three per cent and services by roughly three per cent from August 2019.

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 2020 August, Statistics Finland

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

Head of Department in charge: Mari Ylä-Jarkko

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Revisions in these statistics

Updated 15.10.2020

Referencing instructions:

Official Statistics of Finland (OSF): Trend Indicator of Output [e-publication].
ISSN=1798-5439. August 2020. Helsinki: Statistics Finland [referred: 17.12.2024].
Access method: http://www.stat.fi/til/ktkk/2020/08/ktkk_2020_08_2020-10-15_tie_001_en.html