Finland GDP Shrinks More Than Estimated In Q3

(RTTNews) - Finland's economy contracted more than initially estimated in the third quarter, the latest data from Statistics Finland showed on Friday.

Gross domestic product shrank a seasonally and working-day-adjusted 0.3 percent sequentially in the third quarter, after falling 0.2 percent in the previous quarter. In the flash estimate, the rate of decline was 0.1 percent.

The expenditure breakdown showed that government consumption fell 0.2 percent, while private consumption rose by 0.2 percent. Data showed that public investments were 4.0 percent lower, and net foreign demand was slightly unfavorable as exports grew 2.0 percent amid a 2.1 percent rise in imports.

On a yearly basis, GDP shrank 0.6 percent in the third quarter, reversing a 0.2 percent increase in the second quarter.

In October, the Finnish economy contracted 0.1 percent annually versus a 0.2 percent decline in September.