Finnish Recession to Be Milder Than Forecast, Tapiola Bank Says
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Finland’s economy will contract less than previously forecast this year after household spending spurred growth in the first quarter, Tapiola Bank said.
Gross domestic product will shrink 0.5 percent in 2012, less than the 1.5 percent drop forecast on Dec. 15, the Espoo, Finland-based bank said in an e-mailed statement. Next year, the Nordic country’s GDP will increase by 0.5 percent.