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Financial News: Finland Q3 Growth Revised Up

Finland Q3 Growth Revised Up

11/27/2020 - 10:11:00 (RTTNews)

(RTTNews) - Finland's economy exited recession in the third quarter and expanded at a faster than expected pace, latest figures from Statistics Finland showed on Friday.

Gross domestic product grew a seasonally adjusted 3.3 percent from the previous quarter, the latest figures showed, versus the initial estimate of 2.6 percent.

The economy grew for the first time since the second quarter of 2019.

On a year-on-year basis, GDP shrunk a working-day adjusted 2.7 percent, which was revised from 4 percent estimated earlier. The sequential contraction in the second quarter was revised to 3.9 percent from 4.5 percent and the annual decline to 6.2 percent from 6.4 percent.

Exports rose 2.6 percent quarterly and imports grew 4.7 percent. Private consumption increased 2.9 percent, while investments decreased 0.3 percent.

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