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Financial News: Finland GDP Recovers 0.5% In Q1

Finland GDP Recovers 0.5% In Q1

05/15/2024 - 05:15:00 (RTTNews)

(RTTNews) - Finland's economy expanded in the first quarter after contracting in the previous two quarters, preliminary figures from Statistics Finland showed on Wednesday.

Gross domestic product rose seasonally and working-day-adjusted 0.5 percent sequentially in the March quarter, reversing a 0.7 percent decrease in the previous quarter.

During the third quarter of this year, the GDP showed a negative growth of 1.1 percent.

During March, the output of the national economy dropped 0.8 percent annually, following a revised 1.5 percent rise in February.

Primary production and tertiary activity grew by around 4.4 percent and 1.9 percent, respectively, in March compared to last year. This was offset by a 7.5 percent decline in secondary production.

On a monthly basis, GDP decreased 1.0 percent in March after rising 0.1 percent in the preceding month.

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