Home > Statistics > Trend Indicator of Output > 2015 > May > Output of the national economy diminished in May

Published: 15 July 2015

Output of the national economy diminished in May

Seasonally adjusted output decreased by 0.5 per cent in May from the month before. Adjusted for working days, output fell by 1.2 per cent from May 2014. According to revised data, working-day adjusted output fell in April by 0.2 per cent (previously -1.2 per cent) from April 2014. The revision was caused by the benchmarking of the data to quarterly accounts.

Volume of total output 2005 to 2015, 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, %

Working day adjusted primary production grew by two per cent. Secondary production decreased by four per cent and services by one per cent from May 2014.

Primary production refers to agriculture, hunting, forestry and fishing. 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.

Source: Trend Indicator of Output 2015 May, Statistics Finland

Inquiries: Samu Hakala 029 551 3756, Ida Peltonen 029 551 3334, kansantalous.suhdanteet@stat.fi

Director in charge: Mari Ylä-Jarkko

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Revisions in these statistics

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Updated 15.7.2015