Finnish economy likely to slowdown in Q3

The preliminary Finnish Q3 GDP data is scheduled to release today. The data is expected to come in line with Flash estimate, which reveals the GDP is contracted by less than 0.6% q/q. 

The Flash GDP is estimated based on a monthly indicator of deflated turnover. Therefore, sometime, the actual GDP data may differ to the flash estimate. However, for Q3, analysts believe that the Flash estimate is correct as the investment is flat and negative growth is noticed in foreign trade. 

"Therefore, without a very big statistical error or a huge increase in inventories, we should witness a decline in GDP, very likely something close to -0.6% q/q", argues Nordea Bank.