FX.co ★ Finnish GDP Falls As Estimated In Q3

Finland's?economy?contracted as initially estimated in the third quarter after expanding in the previous two quarters, the latest figures from Statistics Finland showed on Thursday.

Gross domestic product fell seasonally and working-day-adjusted 0.9 percent sequentially in the September quarter, reversing a revised 0.4 percent rise in the previous quarter. That was in line with the flash data published on November 14.

On the expenditure side, private consumption decreased 0.6 percent over the quarter, and government consumption showed a fall of 2.7 percent.

Gross fixed capital formation contracted by 1.5 percent, as both private and public investments declined. Both exports and imports slid by 1.8 percent and 3.2 percent, respectively.

On a yearly basis, gross domestic product fell at a faster pace of 1.2 percent in the third quarter after a 0.4 percent drop in the second quarter. This was the second consecutive quarterly decrease.