Home > Statistics > Trend Indicator of Output > 2020 > October > Output of the national economy fell in October from the year before, growth from the previous month

Published: 15 December 2020

Output of the national economy fell in October from the year before, growth from the previous month

Adjusted for working days, output fell by 1.9 per cent in October 2020 from one year back. In October, seasonally adjusted output grew by 0.2 per cent from the month before. According to revised data, working-day adjusted output increased in September 2020 by 2.1 per cent (previously -3.2 per cent) from last year's September.

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 primary production decreased by around four per cent. Secondary production decreased by about one per cent and services by around two per cent from October 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 October, 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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Updated 15.12.2020