FX.co ★ Finland Economic Output Contracts Most In 5 Months

Finland's economic output experienced a continued decline in May, marking the sharpest contraction in five months, according to data released by Statistics Finland on Tuesday.

The national economic output, adjusted for working days, decreased by 1.9 percent year-on-year in May, following a 1.5 percent decline in April. The downward trend has persisted since June of the previous year.

Notably, this decline is the most significant since December 2023, when the economy contracted by 2.1 percent.

Sector-wise, primary sector production saw a contraction of approximately 4.4 percent compared to the previous year. Meanwhile, secondary sector output plummeted by 8.8 percent, although tertiary sector activity showed a modest increase of 1.0 percent.

On a seasonally adjusted basis, the output grew by 0.7 percent in May, an improvement from the 0.1 percent rebound observed in the prior month.