Finland GDP


Finland: Growth accelerates in the second quarter on a stronger domestic sector

September 5, 2011

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.


Sample Report

Looking for forecasts related to GDP in Finland? Download a sample report now.


Finland Economic News

More news

Search form