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Published: 15 February 2022

Output of the national economy grew in December

Adjusted for working days, output went up by 4.5 per cent in December 2021 from one year back. In December, seasonally adjusted output grew by 0.7 per cent from the month before. According to revised data, working day adjusted output grew in November 2021 by 4.2 per cent (previously 4.2 per cent) from November 2020.

Volume of total output 2005 to 2021, trend and seasonally adjusted series

Volume of total output 2005 to 2021, 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 change of total output from previous year’s corresponding month, %

Working day adjusted primary production decreased by around three per cent. Secondary production grew by about ten per cent and services by around three per cent from December 2020.

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 last quarter of 2021

Seasonally adjusted GDP is estimated to have grown by around 0.6 per cent from the previous quarter. According to the series adjusted for working days, GDP was 3.7 per cent higher than in the corresponding quarter of the year before. It is estimated that the number of the employed has increased by around 3.1 per cent from one year ago. Adjusted for working days, the number of hours worked had grown by around 1.6 per cent from the corresponding 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 28 February 2022.

Flash estimate, seasonally adjusted, reference year 2015

Flash estimate, seasonally adjusted, reference year 2015

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 2021 December, Statistics Finland

Inquiries: Janne Eskelinen 029 551 2316, Eveliina Heinänen 029 551 3436, kansantalous.suhdanteet@stat.fi

Head of Department in charge: Katri Kaaja

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Revisions in these statistics

Updated 15.2.2022

Referencing instructions:

Official Statistics of Finland (OSF): Trend Indicator of Output [e-publication].
ISSN=1798-5439. December 2021. Helsinki: Statistics Finland [referred: 22.12.2024].
Access method: http://www.stat.fi/til/ktkk/2021/12/ktkk_2021_12_2022-02-15_tie_001_en.html