FOREX TradingCharts.com

Financial News: Finland Economy Shrinks Most Since Early 2009

Finland Economy Shrinks Most Since Early 2009

08/28/2020 - 07:01:00 (RTTNews)

(RTTNews) - Finland's economy contracted in the second quarter at the fastest pace since the global financial crisis of 2008-09 and sank deeper into a severe recession, as the coronavirus, or Covid-19, pandemic disrupted economic activity, preliminary data from Statistics Finland showed Friday.

Gross domestic product decreased a seasonally adjusted 4.5 percent from the first quarter, when the economy contracted 1.9 percent. The economy shrunk for a third quarter in a row.

The latest contraction was the worst since a 6.5 percent decline in the first quarter of 2009.

The second quarter shrinkage was earlier estimated at 3.2 percent. The first quarter contraction was revised from a 0.9 percent fall.

The economy had entered a technical recession, which is two consecutive quarters of GDP decline, in the first three months of 2020.

Exports decreased 8.7 percent and imports fell 9.8 percent. Private consumption declined 6.9 percent and gross fixed capital formation shrunk 0.6 percent. On a year-on-year basis, GDP declined a working-day adjusted 6.4 percent in the second quarter, which was much severe than the 4.9 percent decrease estimated earlier.

The annual fall in the first quarter was 1.3 percent, revised from 1.1 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Leading Economic Index Suggests Rebound May Be Losing Stream (11 hr(s), 57 min(s), 03 sec(s) ago)
(RTTNews) - A report released by the Conference Board showed a continued increase by its reading o ...Full Story»

U.S. Consumer Sentiment Improves Much More Than Expected In September (12 hr(s), 10 min(s), 03 sec(s) ago)
(RTTNews) - After reporting an unexpected increase in U.S. consumer sentiment in the previous mont ...Full Story»

Italy Current Account Surplus Rises For First Time Since April (12 hr(s), 39 min(s), 03 sec(s) ago)
(RTTNews) - Italy's current account surplus increased for the first time in four months in Jul ...Full Story»

Croatia Jobless Rate Steady At 9% In August (13 hr(s), 10 min(s), 03 sec(s) ago)
(RTTNews) - Croatia's unemployment rate remained unchanged in August after easing in the previ ...Full Story»

Poland's Industrial Output Rises Less Than Expected (14 hr(s), 0 min(s),03 sec(s) ago)
(RTTNews) - Poland's industrial production grew less than expected in August, data from Statis ...Full Story»

Russia's Central Bank Keeps Rate On Hold (15 hr(s), 23 min(s), 03 sec(s) ago)
(RTTNews) - Russia's central bank left its key interest rate unchanged at a record low as wide ...Full Story»

Italy's Industrial Orders Rise In July (16 hr(s), 35 min(s), 03 sec(s) ago)
(RTTNews) - Italy's industrial orders and turnover increased for the third consecutive month i ...Full Story»

Eurozone Current Account Surplus Falls In July (16 hr(s), 49 min(s), 03 sec(s) ago)
(RTTNews) - The euro area current account surplus declined in July due to a fall in primary income ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Leading Economic Index Suggests Rebound May Be Losing Stream

09/18/2020 - 10:27 AM (RTTNews)
(RTTNews) - A report released by the Conference Board showed a continued increase by its reading o ...Full Story>>

U.S. Consumer Sentiment Improves Much More Than Expected In September

09/18/2020 - 10:14 AM (RTTNews)
(RTTNews) - After reporting an unexpected increase in U.S. consumer sentiment in the previous mont ...Full Story>>

Italy Current Account Surplus Rises For First Time Since April

09/18/2020 - 09:45 AM (RTTNews)
(RTTNews) - Italy's current account surplus increased for the first time in four months in Jul ...Full Story>>

Croatia Jobless Rate Steady At 9% In August

09/18/2020 - 09:14 AM (RTTNews)
(RTTNews) - Croatia's unemployment rate remained unchanged in August after easing in the previ ...Full Story>>

Poland's Industrial Output Rises Less Than Expected

09/18/2020 - 08:24 AM (RTTNews)
(RTTNews) - Poland's industrial production grew less than expected in August, data from Statis ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.