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Home BUSINESSGDP falls by 1% in 2012
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Sun, 02 Feb, 2014 12:07:27 AM
FTimes Report, February 2
 
Annual change in the volume of gross domestic product, per cent. Source: Statistics Finland.
Finland’s gross domestic product (GDP) fell by 1% in 2012, said revised preliminary data of Statistics Finland.
 
Previously, the fall was estimated to be 0.8%.
 
In 2011, GDP grew from 2.7 a year before to 2.8%.
 
Household real income diminished by 0.2% in 2012, said the preliminary data for the year 2013 to be published on March 3, 2014.
 
Households’ adjusted real income describing their economic wellbeing declined by 0.1%. 
 
The gross domestic product was revised downwards in 2012 because new data on wood sales and the finances and activities of municipalities were received. 
 
National income, in turn, was revised upwards because more income was received from foreign investments than was previously estimated.
 
Production was troubled by a fall in exports and investments – the volume of export shrunk by 0.2% and import by 0.7%, according to the statistic. 
 
Investment fell by 0.8%. Only consumption expenditure grew slightly – private consumption expenditure by 0.3% and public consumption expenditure by 0.5%, the data says.
 
 
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