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Published: 13 August 2010

Output of the national economy grew in June

Seasonally adjusted output grew by 0.8 per cent in June from the month before. According to the series adjusted for working days output went up by 5.1 per cent from the corresponding month of the year before. According to revised data, working-day adjusted output grew this May by 5.2 per cent (previously 4.2%) from May 2009. The revision was due to a revision in the source data on services.

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 grown by 16 per cent from June 2009. Secondary production went up by 12 per cent and services by two 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, hunting, forestry and fishery.

Estimated development of total output in the second quarter of 2010

Seasonally adjusted output is estimated to have grown by 3.1 per cent from the previous quarter. According to the series adjusted for working days, output went up by 4.8 per cent from the corresponding quarter of the year before. The data are based on preliminary data on the Trend Indicator of Output.

Source: Trend Indicator of Output 2010, June, Statistics Finland

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

Director in charge: Ari Tyrkkö

Publication in pdf-format (225.2 kB)

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Appendix tables

• Appendix table 1. Revisions to the data of the Trend Indicator of Output (13.8.2010)

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Updated 13.8.2010