Home > Statistics > Trend Indicator of Output > 2014 > November > Output of the national economy decreased in November 2014

Published: 15 January 2015

Output of the national economy decreased in November 2014

Seasonally adjusted output decreased by 0.5 per cent in November from the month before. However, adjusted for working days, output went up by 0.9 per cent from the level of November 2013. November 2014 had one working day less than the corresponding month of the previous year. The working day correction affected the growth figures of November considerably as, according to the original series, output of the national economy decreased by 1.7 per cent from one year ago in November.According to revised data, working day adjusted output increased in October by 1.2 per cent from October 2013 (previously 0.8%).

Volume of total output 2005 to 2014, 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, %

Primary production went up by close on one per cent and services by two per cent from November 2013. By contrast, secondary production decreased by two per cent year-on-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, hunting, forestry and fishing.

Source: Trend Indicator of Output 2014 November, Statistics Finland

Inquiries: Veli-Pekka Karvinen 029 551 2667, Samu Hakala 029 551 3756, kansantalous.suhdanteet@stat.fi

Director in charge: Leena Storgårds

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Updated 15.1.2015