Finland Economy Shrinks 0.4% In Q2

(RTTNews) - Finland's economy contracted in the second quarter, revised from a stagnation estimated initially, the latest data from Statistics Finland showed on Friday.

Gross domestic product dropped a seasonally and working-day-adjusted 0.4 percent sequentially in the June quarter, after remaining flat in the previous quarter.

On the expenditure side, private consumption fell 1.3 percent, and government consumption slid by 1.0 percent. On the other side, public investments grew 5.1 percent compared to the previous quarter. The volume of exports fell 0.2 percent, while imports rose by 2.5 percent.

On a yearly basis, Finland's economy stagnated in the June quarter versus a 1.0 percent growth in the March quarter.