Home > Statistics > Trend Indicator of Output > 2016 > July > Output of the national economy grew in July

Published: 15 September 2016

Output of the national economy grew in July

Seasonally adjusted output increased by 0.5 per cent in July from the month before. Adjusted for working days, output was 1.5 per cent higher than one year before. According to revised data, working-day adjusted output grew in June by 0.7 per cent (previously 0.5 per cent) from June 2015. The revision is caused by the benchmarking of the data to quarterly accounts.

Volume of total output 2005 to 2016, 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 fell by one per cent from the year before. Secondary production rose by seven per cent from July 2015 and services remained on level with the previous year.

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 2016 July, Statistics Finland

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

Director in charge: Ville Vertanen

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Updated 15.09.2016