Home > Statistics > Trend Indicator of Output > 2010 > January > Output of the national economy fell in January

Published: 8 April 2010

Output of the national economy fell in January

Seasonally adjusted output fell by 0.3 per cent from the month before. According to the original series, output fell by 0.5 per cent from the corresponding month of the year before. January 2010 had one working day less than the corresponding month of the previous year. Adjusted for working days, output declined by 0.2 per cent from January 2009. 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 December 2009 by 3.5 per cent (previously -5.3%) and the original series by 2.4 per cent (previously -4.2%) from December 2008. The reason for the revision was the benchmarking of the data to quarterly accounts.

Volume of total output 2003 – 2010, 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, %

According to the working day adjusted series, primary production is estimated to have declined by two per cent from January 2009. Secondary production contracted by one per cent but services remained on level with the previous year. 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 2010, January, Statistics Finland

Inquiries: Veli-Pekka Karvinen (09) 1734 2667, Samu Hakala (09) 1734 3756, kansantalous.suhdanteet@stat.fi

Director in charge: Ari Tyrkkö

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Updated 8.4.2010