Finland Economic Output Expands At Slower Rate
(RTTNews) - Finland's economic output grew at a slower pace in June, figures from Statistics Finland showed Tuesday.
National output advanced a working-day-adjusted 3.0 percent year-over-year in June, slower than the 3.5 percent rise in May, which was revised up from a 3.4 percent growth reported earlier.
Production in the primary sector grew by around 10 percent, secondary production by 1.0 percent and services by slightly over 4.0 percent from June last year.
The seasonally adjusted economic output dropped 0.3 percent monthly in June, in contrast to a 0.8 percent increase in the prior month.
During the second quarter of this year, seasonally adjusted GDP is estimated to have risen by 0.5 per cent from the previous quarter. On a working-day-adjusted basis, GDP was 2.9 per cent up on the corresponding quarter of the year before, the agency said.
In an another report, the statistical office revealed that consumer price inflation accelerated to 1.4 percent in July from 1.2 percent in June.
The rise in inflation was mainly driven by higher prices of cigarettes, petrol and hotel rooms.
Month-on-month, consumer prices dropped 0.1 percent from June, when it rose by 0.2 percent.
Separately, the statistical office announced that retail sales value grew 1.2 percent yearly in June, well below the 6.1 percent rise in the previous month.SEE ALSO: The loonie is climbing after the Bank of Canada raised its benchmark rate to 1.5% ÃÂ» READ NOW: 10 things you need to know in markets today ÃÂ» SUBSCRIBE NOW:
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