In the first quarter, GDP grew a seasonally adjusted 0.8% over the previous quarter, which represented a deceleration compared to the extraordinary 1.8% expansion tallied in the fourth quarter (previously reported: +1.7% quarter-on-quarter). Compared to the same period last year, the economy increased 5.5% in working-day adjusted terms. The slowdown over the previous quarter mainly came as a result of a weaker external sector, whose contribution to overall growth swung from +4.7 percentage points in the fourth quarter to minus 3.2 percentage points in the first. The deterioration was the result of exports contracting 4.8% (Q4 2010: +6.4% qoq), while imports accelerated to a 2.2% increase (Q4 2010: -4.1% qoq). The domestic sector continued to show signs of improvement. Domestic demand growth picked up from 0.6% in the fourth quarter to 1.4%, mostly driven by stronger fixed investment, which expanded 2.6% (Q4 2010: +0.6% qoq). In contrast, total consumption slowed, as private consumption moderated markedly from a 0.9% increase in the previous quarter to a modest 0.1% expansion, which was only partly offset by government spending accelerating to a 0.7% increase (Q4 2010: +0.5% qoq).
Economic growth moderates in first quarter
June 3, 2011
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Finland Economic News
October 14, 2016
In August, economic activity fell a working-day adjusted 0.1% over the same month last year, according to the Monthly Trend Indicator of Output.
October 14, 2016
The current account posted a EUR 166 million deficit in August, according to Statistics Finland.
September 15, 2016
In July, economic activity expanded a working-day adjusted 1.5% over the same month last year, according to the Monthly Trend Indicator of Output.
September 6, 2016
The Finnish economy recorded flat growth in Q2 over the previous quarter in seasonally-adjusted terms, which represented a slowdown from Q1’s 0.3% expansion, according to preliminary data released by Statistics Finland on 6 September.
August 15, 2016
The current account posted a EUR 219 million deficit in June according to Statistics Finland.