The Finnish economy saw positive growth in May 2023, according to the latest data from Statistics Finland. The workday-adjusted production increased by 1.9% compared to the same period last year. Additionally, the seasonally adjusted production for May grew by 0.8% compared to the previous month.
Further revisions to the data show that the workday-adjusted production for April 2023 grew by 1.3% (previously reported as 1.3%) compared to April 2022. The primary sector saw a growth of approximately 3%, while manufacturing and services sectors expanded by around 1% and 3% respectively, compared to May 2022.
The provided data, represented in graphical format, reveals the volume of production development on a monthly basis from 2005 to 2023. The graph highlights various trends and seasonally adjusted series in the volume of production, demonstrating the variable nature of the country’s economic performance during this time frame. While the overall production volume has shown growth over the years, there have been periods of contraction, notably in 2009, 2020, and from 2012 to 2014.
Key Points:
- Workday-adjusted production grew by 1.9% in May compared to the same month last year.
- Seasonally adjusted production for May increased by 0.8% compared to the previous month.
- Primary sector production grew by approximately 3%, manufacturing by around 1%, and services by approximately 3% compared to May 2022.
This growth indicates positive economic momentum in Finland, and policymakers will likely use this data to assess and strategize further measures to support sustainable economic development in the country.
For more detailed statistics and data, please refer to the official reports and tables provided by Statistics Finland.