Finnish economic growth contracts sequentially in Q2

The Finish economic growth contracted in the second quarter of this year, according to the flash estimate. Finland’s GDP growth shrank 0.5 percent in the June quarter on a sequential basis, and grew 1.6 percent year-on-year, showed the flash estimate. Nordea Bank had projected that the economy would grow 0.65 percent quarter-on-quarter. The monthly production indicator has three components – primary, secondary and service production.

It seems that the second quarter was quite subdued in primary and secondary production. Meanwhile, services in the June quarter appears to be outright bad as deflated turnover dropped hugely.

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