Output of the national economy diminished in May

Seasonally adjusted output diminished by 1.9 per cent from the month before. Adjusted for working days, output fell by 11.4 per cent from May 2008. May 2009 had two working days less than the corresponding month of the previous year. According to the original series, output was 12.8 per cent lower than in May of the year before. The data derive from Statistics Finland's Trend Indicator of Output. The data are preliminary and will become revised later.

According to revised data, output adjusted for working days fell in April by 9.5 per cent (previously -9.2%) and the original series fell by 11.4 per cent (previously -11.2%) from April 2008.

Volume of total output 2003 - 2009, 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.

Working day adjusted change of total output from previous year's corresponding month, %

According to the working day adjusted series, primary production is estimated to have contracted by seven per cent from May 2008. Secondary production contracted by 22 per cent and services by seven per cent. 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. Primary production refers to agriculture, forestry and fishery.

Source: Trend Indicator of Output 2009, May Statistics Finland

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

Director in charge: Mr Ari Tyrkkö

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Last updated 6.8.2009

Referencing instructions:

Official Statistics of Finland (OSF): Trend Indicator of Output [e-publication].
ISSN=1798-5439. May 2009. Helsinki: Statistics Finland [referred: 15.11.2024].
Access method: http://www.stat.fi/til/ktkk/2009/05/ktkk_2009_05_2009-08-06_tie_001_en.html