National economy National output grew by nine per cent in May

“The interest rate gap point is offset,” commented the economist.

Finland The working day adjusted output of the economy grew by 9 per cent year-on-year in May, according to Statistics Finland. Compared with April, seasonally adjusted production increased by 0.4 per cent.

At the same time, the growth figures for April also became more precise, so that the growth in working-day adjusted output was 7.1 per cent instead of the previously estimated 6.4 per cent. The fastest growth was in services, where working day adjusted growth was about eleven per cent.

Kovia The growth figures are explained by the interest rate crisis that paralyzed the economy last spring.

Chief Economist of Municipal Finance Timo Vesala commented On Twitterthat at this point the interest rate gap is soon to be cleared.

“GDP growth is promising in the second quarter. It may be the fastest pace this year, now that global uncertainty is set to grow slightly, ”Vesala wrote.



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