Finland’s Economy Shrinks Most Since 2020 in Broad-Based Decline
The export-driven Finnish economy is projected to enter a recession with full-year contraction in 2023.
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Finland’s economy contracted the most since early 2020 in the third quarter as the Nordic economy suffers from a slump in key export industries and as higher borrowing costs are hurting consumers.
Gross domestic product contracted 0.9% in the quarter through September from the previous three-month period, when it increased a revised 0.4%, Statistics Finland said on Thursday, citing data adjusted for seasonal swings. The outcome matched a flash estimate earlier this month.