FX.co ★ Finland GDP Expands 1.1% In Q1

Finland's economy expanded strongly in the first quarter after contracting in the previous two quarters, preliminary figures from Statistics Finland showed on Tuesday.

Gross domestic product advanced a seasonally and working-day-adjusted 1.1 percent sequentially in the March quarter, reversing a 0.4 percent fall in the previous quarter.

Thus, the economy has now recovered from a technical recession due to back-to-back declines in GDP in the previous two quarters.

During March, the output of the national economy grew 1.7 percent annually, following a 0.1 percent marginal rise in February.

Primary production decreased sharply by around 7.6 percent in March compared to last year. On the other hand, secondary production logged a positive growth of 0.6 percent, and the tertiary sector expanded by 2.4 percent.

On a monthly basis, GDP expanded 1.0 percent from February, when it decreased by 0.9 percent.