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Home BUSINESSEconomic recession is yet to be over
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Thu, 06 Jun, 2013 03:06:27 AM
FTimes Report, June 6

 

 

Photo - Lehtikuva
The country’s economy is still passing through the recession in the first financial quarter as the volume of Finland’s gross domestic product has contracted by 0.1 per cent from the previous quarter.
 
According to the Statistics Finland's preliminary data, the GDP has decreased by 0.1 per cent from the quarter from January to March in 2013 and by 2.1 per cent since the first quarter of the last fiscal.
 
There were two working days less in the first quarter than the previous year.
 
Source - Statistics Finland
In the first quarter, the volume of exports has grown by 0.9 per cent compared to the previous quarter but has contracted by four per cent in one year while imports have decreased by three per cent from the previous quarter and by 7.9 per cent since the last year.
 
In the first quarter, the volume of private consumption has grown by 0.3 per cent from the previous quarter but has decreased by 0.5 per cent from twelve months back.
 
The gross fixed capital formation grew by 0.6 per cent from the previous quarter, but decreased by 5.5 per cent on year-on-year basis.
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