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| Finnish Economy Slips Into Recession In Q3 |
| Helsinky, 05.12.2012 |
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| Finland's economy slipped into a mild recession in the third quarter, contrary to initial estimates for a modest recovery, latest data from Statistics Finland showed Wednesday.
Gross domestic product edged down a seasonally adjusted 0.1 percent quarter-over-quarter in the third quarter, after falling 1.1 percent in the second quarter. The flash estimates showed a 0.3 percent growth.
The volume of exports increased 2.4 percent sequentially in the third quarter, while imports decreased by 3.7 percent. Private consumption was higher by 0.8 percent compared to the second quarter, while investments decreased 1.1 percent.
The economy contracted a working-day adjusted 1.2 percent compared to the third quarter of 2011, notably faster than the 0.3 percent decrease seen in the second quarter. Initially, the GDP was estimated to drop 0.8 percent year-on-year.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
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