Published: 16 June 2020

Output of the national economy fell in April

Corrected on 17 June 2020. The correction is indicated in red.

Adjusted for working days, output fell by 7.9 per cent in April 2020 from one year back. Seasonally adjusted output in turn went down by 2.1 per cent in April from the month before. According to revised data, working day adjusted output fell in March 2020 by 5.7 per cent (previously -2.7 per cent) from March 2019. The revisions arise from the benchmarking of the data of the Trend Indicator of Output with the Quarterly National Accounts data released on 29 May 2020.

Volume of total output 2005 to 2020, trend and seasonally adjusted series

Volume of total output 2005 to 2020, 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 five per cent from the year before. Secondary production decreased by about three per cent and services by around 10 per cent from April 2019.

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 2020 April, Statistics Finland

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

Director in charge: Jan Nokkala

Publication in pdf-format (192.9 kB)

Tables

Tables in databases

Revisions in these statistics

Updated 16.6.2020

Referencing instructions:

Official Statistics of Finland (OSF): Trend Indicator of Output [e-publication].
ISSN=1798-5439. April 2020. Helsinki: Statistics Finland [referred: 4.7.2020].
Access method: http://www.stat.fi/til/ktkk/2020/04/ktkk_2020_04_2020-06-16_tie_001_en.html