Home > Statistics > Trend Indicator of Output > 2005 > August > GDP fell slightly from previous month, 2.0 per cent growth from one year back

Published: 20 October 2005

GDP fell slightly from previous month, 2.0 per cent growth from one year back

According to the seasonally adjusted series of the Monthly Indicator of GDP calculated by Statistics Finland, the volume of GDP fell by 0.4 per cent in August when compared to the strong growth recorded in July. The trend of GDP indicates growth for the economy.

Volume of GDP 2000 - 2005, trend and seasonally adjusted series

The series of the Monthly Indicator of GDP 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.

GDP went up by 2.0 per cent from August 2004

The volume of GDP went up by 2.0 per cent in August 2005 from August of the previous year. Among the six industries of the Monthly Indicator, output declined only in manufacturing. August 2005 had one working day more than the corresponding month of the year before.

Percentage changes of GDP from the previous year's corresponding month

According to the original series, industrial output fell by 1.7 per cent from August 2004. Output declined by under one per cent in the wood and paper industry and by 24 per cent in energy supply. The output volumes of the whole metal industry remained on level with the corresponding month of the year before but production in its sub-industry of manufacture of electrical and electronic equipment declined by 10 per cent. In other manufacturing, output volumes grew by 2 per cent.

Sales volumes of trade increased by 8 per cent. Motor vehicle sales grew by 11 per cent, wholesale trade by 8 per cent and retail trade by 7 per cent.

Primary production went up by just short of 3 per cent form August 2004. Transport increased by 3 per cent. Output grew by just under 3 per cent in other service industries and by 2 per cent in construction from August 2004.

The Monthly Indicator of GDP is based on twelve monthly series on different industries of the economy. The series are summed by weighting. The purpose of the Monthly Indicator is to anticipate the development of the quarterly gross domestic product calculated later with more detailed data.

Source: Monthly Indicator of GDP 2005, August. Statistics Finland

Inquiries: Mr Veli-Pekka Karvinen +358 9 1734 2667, kansantalous.suhdanteet@stat.fi

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Last updated 20.10.2005