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Published: 15 February 2011

Brisk growth of output continued in the national economy through December 2010

Seasonally adjusted output grew by 0.6 per cent in December from the month before. According to the series adjusted for working days, output went up by 7.2 per cent from the corresponding month of the year before. According to revised data, working day adjusted output grew in November by 7.5 per cent from November 2009.

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. Information on seasonal adjustment method: http://www.tilastokeskus.fi/til/tramo_seats_en.html

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 19 per cent from December 2009. Secondary production went up by 16 per cent and services by just under four 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 fishing.

Estimated development of total output in the fourth quarter of 2010

Seasonally adjusted output is estimated to have grown by 2.5 per cent from the previous quarter. According to the series adjusted for working days, output went up by 6.7 per cent from the corresponding quarter of the year before. The data are based on the preliminary data on the Trend Indicator of Output.

Source: Trend Indicator of Output 2010, December, 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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• Appendix table 1. Revisions to the data of the Trend Indicator of Output (15.2.2011)

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Updated 15.2.2011