// IP Marketing video - START// IP Marketing video - END

Finland's economy slips into recession, output falls

Finland's economy slips into recession, output falls

PanARMENIAN.Net - Finland's economy has slipped into recession with a 0.1 percent drop in gross domestic product in the third quarter from the previous three months, as the export-dependent country continues to suffer from a drop in demand among European trading partners, The Associated Press reported.

Statistics Finland said Wednesday, Dec 5, economic output fell 1.1 percent in the second quarter. That puts Finland in recession, commonly defined as two consecutive quarters of quarterly economic contraction.

Consumer demand was up 0.8 percent in the third quarter but investments dropped by 1.1 percent.

Compared with a year earlier, GDP was down 1.2 percent, with exports falling 1.8 percent.

The conservative-led coalition government of Finland, a rich country with healthy finances, has warned it will need to help the economy and contain growing inflation as the European crisis hurts exports.

 Top stories
Mount Maymekh will become a skiing zone under a new project which will attract about $30 million in investments and create some 1600 jobs.
Armenia would become a rock-bottom option in the Eastern European region, maybe in the world, for citizenship through investment.
Cryptocurrency fever seems to have spread to the former Soviet republics with Armenia, the land of Mount Ararat, being one of them.
Armenia’s exports grew 25% in 2017 against 2016 to amount $2,242 billion overall, the National Statistical Service reveals.
Partner news