Home > Statistics > Trend Indicator of Output > 2019 > September > Output of the national economy grew in September from the year before, decrease from the previous month

Published: 14 November 2019

Output of the national economy grew in September from the year before, decrease from the previous month

Adjusted for working days, output went up by 0.8 per cent in September 2019 from one year back. In September, seasonally adjusted output fell by 0.4 per cent from the month before. According to revised data, working-day adjusted output increased in August 2019 by 2.1 per cent (was 2.5) from August 2018.

Volume of total output 2005 to 2019, 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 remained on level with the previous year. Secondary production declined by some 0.1 per cent and services grew by 1.3 per cent from September 2018.

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.

GDP and employment are estimated to have grown in the third quarter of 2019

Seasonally adjusted GDP is estimated to have risen by 0.5 per cent from the previous quarter. According to the series adjusted for working days, GDP was 1.9 per cent up on the corresponding quarter of the year before. It is estimated that the number of the employed has increased by around 0.8 per cent from one year ago Adjusted for working days, the number of hours worked was 0.9 per cent higher than in the same quarter of one year ago.

The data are based on preliminary data of the Trend Indicator of Output. The next quarterly national accounts with more detailed data will be published on 29 November 2019.

Flash estimate, seasonally adjusted, at reference year 2010 prices

The compilation of the quarterly flash estimate is based on the change in production calculated through the Trend Indicator of Output and on the estimated development of taxes on products and subsidies on products.

Source: Trend Indicator of Output 2019 September, Statistics Finland

Inquiries: Antti Kosunen 029 551 3613, Mikko-Waltteri Sihvola 029 551 3062, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Updated 14.11.2019