Open

Coming up

Don't miss

Replay


LATEST SHOWS

FASHION

Paris, Haute Couture Fall/Winter 2014-2015.

Read more

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FRANCE IN FOCUS

Politics: parties under pressure

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

  • Israeli platoon attacks Hamas base as tanks line up along Gaza border

    Read more

  • Rival Libyan militias exchange heavy fire at Tripoli airport

    Read more

  • Holland beat hosts Brazil 3-0 to finish third in World Cup

    Read more

  • Germany vs Argentina - history and genius clash in World Cup final

    Read more

  • Iraqi parliament resumes session on key appointments

    Read more

  • French court lifts mayor’s ban of Muslim hijab on beach

    Read more

  • Afghan presidential candidates agree to full vote audit, Kerry says

    Read more

  • France’s Kadri wins eighth stage at Tour de France

    Read more

  • Last of the Ramones, Tommy Ramone, dies aged 62

    Read more

  • Video: Outrage in wake of deadly Casablanca buildings collapse

    Read more

  • Iraqi forces ‘executed prisoners in reprisal’ for ISIS killings

    Read more

  • Ukraine promises retaliation after rebel assault

    Read more

  • Putin revives old Cuban flame and eyes Latin American minerals

    Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Cleveland's NBA fans hail 'return of king' LeBron James

    Read more

Business

Recession persists in Q2

©

Text by NEWS WIRES

Latest update : 2009-09-08

Finland's recession, which started in the final three months of 2008, persisted in the second quarter of this year, when the economy contracted a further 2.6 percent after a shrinkage of 3.0 percent in Q1.

AFP - Finland's recession persisted in the second quarter this year, when the economy contracted 2.6 percent after a shrinkage of 3.0 percent in the first, official data showed Tuesday.
   
Finland entered recession in the final three months of 2008, when momentum fell by 1.3 percent from the third quarter.
   
On a 12-month basis, the Nordic country's gross domestic product (GDP) fell in the April-June period this year by 9.4 percent, Statistics Finland said in a statement.
   
Statistics Finland also said it had revised down the first quarter's growth numbers from minus 2.7 percent to minus 3.0 percent.
   
The Finnish government forecast in June that growth would shrink 6.0 percent this year and unemployment would soar due to a sharp fall in output caused by dwindling demand.
   
Finland's traditionally robust, export-driven economy has struggled to overcome dramatic drops in demand from abroad and in consumer confidence at home.
   
"In the April to June period, the volume of exports shrank by 30.2 percent from twelve months back, but by only 0.7 percent compared with the previous quarter," Statistics Finland said in a statement.
   
Meanwhile, imports contracted by nearly 28.0 percent in the second quarter on an annual basis, and by 6.0 percent from the first quarter.
 

Date created : 2009-09-08

Comments

COMMENT(S)