Output of Nat´l economy drops, growth continues

The seasonally adjusted Gross Domestic Products (GDP) is estimated to have risen by 1.6 per cent from January to March this year compared to the stipulated period of the previous year, according to the Statistics Finland.

According to the series adjusted for working days, GDP was 2.8 per cent up on the corresponding quarter of the year before. It is estimated that the number of the employed has increased by 0.5 per cent from the first quarter of 2016. Adjusted for working days, the number of hours worked was 1.8 per cent higher than in the same quarter of one year ago.

Intermediate consumption, as well as taxes and subsidies on products are not estimated in the compilation of the quarterly flash estimate, but quarterly GDP is carried forward with a change based on the data of the Trend Indicator of Output.

Meanwhile, seasonally adjusted output fell by 0.7 per cent in March 2017 from the month before. Adjusted for working days, output was 1.3 per cent higher than one year before. According to revised data, working day adjusted output grew in February by 2.8 per cent (previously 3.0 per cent) from February 2016.