Finland's economy slips into recession, output fallsDecember 5, 2012 - 15:32 AMT 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 Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |