In the second quarter, GDP expanded a seasonally adjusted 0.6% over the previous quarter. The reading doubled the revised 0.3% expansion recorded in the first quarter (previously reported: +0.8% quarter-on-quarter). Compared to the same period last year, the economy increased 2.9% in working-day adjusted terms. The acceleration over the previous quarter was underpinned by developments in the domestic sector, with domestic demand picking up 1.4% (Q1: +0.7% qoq). Total consumption accelerated amid stronger private consumption, which also rose from a 0.7% expansion in the first quarter to a 1.4% increase, while government spending declined 0.1% (Q1: +0.2% qoq). In addition, fixed investment expanded 2.1%, up from the 0.5% increase observed in the first quarter. Exports contracted 7.1% over the previous quarter, which came on top of a 5.1% decline in the first quarter. In contrast, imports swung from a 4.0% contraction in the first quarter to a flat reading. As a result, the contribution from the external sector to overall growth dropped from minus 0.9 percentage points in the first quarter to minus 3.3 percentage points in the second quarter.
Growth accelerates in the second quarter on a stronger domestic sector
September 5, 2011
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Finland Economic News
October 14, 2016
The current account posted a EUR 166 million deficit in August, according to Statistics Finland.
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.
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.