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Financial News: Finland GDP Growth Improves Slightly In Q2

Finland GDP Growth Improves Slightly In Q2

08/17/2022 - 10:30:00 (RTTNews)

(RTTNews) - Note: Story updated to reflect growth trend in the second quarter

Finland's economic growth improved marginally in the second quarter, preliminary data from Statistics Finland showed on Wednesday.

Gross domestic product rose a seasonally and working-day-adjusted 0.6 percent sequentially in the June quarter, which was a tad faster than the 0.5 percent rise in the March quarter.

Further, the Finnish economy expanded for the fifth successive quarter in the three months ended June.

On an annual basis, GDP growth eased to 2.3 percent from 3.8 percent in the preceding quarter.

The statistical office is set to publish detailed figures for the second quarter GDP on August 31.

Data also showed that output of the national economy rose a working-day-adjusted 1.0 percent year-over-year in June, slower than the 2.6 percent increase in May, which was revised up from 2.5 percent.

On a seasonally adjusted basis, output contracted 0.2 percent month-on-month in June, in contrast to a 0.2 percent rebound in the preceding month.

Among sectors, secondary production grew by about 4.0 percent annually in June. This was offset by around 1.0 percent falls in both primary and tertiary sectors.

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