Home > Statistics > Trend Indicator of Output > 2011 > October > Output in the national economy fell in October 2011, but some growth year-on-year

Published: 10 January 2012

Output in the national economy fell in October 2011, but some growth year-on-year

Seasonally adjusted output fell by 0.3 per cent in October from the month before. Adjusted for working days, output went up by 1.1 per cent from the level of the previous year's corresponding month. Seasonally adjusted output has fallen four times in the last five months, only in August seasonally adjusted output reached the previous month's level. The trend of total output also shows that the growth rate of the national economy has slowed down.

According to revised data, working-day adjusted output grew in September by 2.3 per cent (previously 1.6 per cent) from September 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, primary production is estimated to have grown by good one per cent from October 2010. Secondary production declined by two per cent. Services went up by two per cent from the previous year's level. 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, October, 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 (10.1.2012)

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Updated 10.1.2012