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Financial News: Finland Economy Expands More Than Expected In Q1

Finland Economy Expands More Than Expected In Q1

06/01/2017 - 02:38:00 (RTTNews)

(RTTNews) - Finland's economic growth improved more-than-expected in the three months ended March, preliminary figures from Statistics Finland showed Thursday.

Gross domestic product advanced a seasonally adjusted 1.2 percent sequentially in the first quarter, faster than the 0.6 percent rise in the fourth quarter, which was revised from a null change estimated earlier.

Economists had expected a 1.0 percent growth for the March quarter.

The economy expanded for the third straight quarter. In the third quarter of 2016, the rate of expansion was 0.8 percent.

On the expenditure side, private consumption expenditure grew 1.5 percent over the quarter and gross fixed capital formation rose by 3.9 percent.

The volume of exports climbed 5.0 percent, while imports dropped by 1.0 percent.

On an an annul basis, the economic growth accelerated to 2.7 percent the first quarter from 1.8 percent in the preceding quarter, revised up from 1.3 percent. The expected rate of increase for the first quarter was 1.5 percent.

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