Finnish Economy Enters Recession as Euro Slump Saps Output
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Finland’s economy shrank in the first quarter, entering a recession as its fellow euro-area countries struggle with austerity and surging unemployment.
Gross domestic product, adjusted for seasonal swings, contracted 0.1 percent from the prior three months, when it shrank a revised 0.7 percent, Statistics Finland in Helsinki said today on its website. The slump matched the median estimate of three economists in a Bloomberg survey. The economy also stalled in the third quarter, after being revised from 0.1 percent growth, data showed.