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Published: 4 November 2011

Output of the national economy grew in August 2011

Seasonally adjusted output grew by 0.2 per cent in August from the month before. Adjusted for working days, output went up by 3.5 per cent from the corresponding month of the year before. According to revised data, working-day adjusted output grew in July by 3.7 per cent (previously 4.9 per cent) from July 2010.

Volume of total output 2005 – 2011, 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, secondary production is estimated to have grown by four per cent from the previous year's August and services by three per cent. In primary production output 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 fishing.

Source: Trend Indicator of Output 2011, August, 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 tables

• Appendix table 1. Revisions to the data of the Trend Indicator of Output (4.11.2011)

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Updated 4.11.2011