Finland Avoids a Fourth Year of Contraction as Consumers Spendby
Finland’s economy avoided a fourth year of contraction as consumer spending edged up to end the year.
Gross domestic product rose 0.1 percent from the third quarter, according to data from Statistics Finland in Helsinki. Adjusted for working days, economic output rose 0.6 percent from a year earlier. For all of 2015, the economy grew 0.4 percent.
Finland’s narrowly avoided a fourth year of contraction as the government seeks to keep deficits under control. The country has been hit hard as key industries such as paper making and consumer electronics suffer and export demand from Russia slides.
Finnish exports rose 0.6 percent last quarter and imports gained 1.6 percent in the quarter. Private consumption grew 0.2 percent and government spending climbed 0.4 percent.