Finnish third quarter GDP growth likely to have surpassed flash estimate

The third quarter GDP data of Finland is set to be released this week. According to a Nordea Bank research report, the economic growth might be surprisingly strong and surpass the 1.1 percent growth suggested by the flash estimate and the forecast of 0.9 percent assumed in September forecast.

Nearly all sectors of the Finnish economy are growing, including the industrial and construction sectors, most services, and both retail and wholesale trade. Indeed, the growth calculation based on value added might be unexpectedly strong.

In the first half of 2017, large negative contributions from inventories and the statistical error were required to pull GDP growth considerably down from the highs of value added, particularly in a year-on-year comparison. Something similar might be seen in the third quarter data as well, added Nordea Bank.

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