Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Iraq's Christians - Nowhere to Run? (part 2)

Read more

DEBATE

Iraq's Christians - Nowhere to Run?

Read more

MEDIAWATCH

Towards a "Third Intifada"?

Read more

FOCUS

What solutions for California's overcrowded prisons?

Read more

MIDDLE EAST MATTERS

Gaza conflict: Palestinians mark sombre Eid

Read more

WEB NEWS

Celebrities in the Israel-Gaza crossfire

Read more

IN THE PAPERS

Israeli strike takes out Gaza power station

Read more

IN THE PAPERS

French newspaper apologises for Sarkozy story

Read more

BUSINESS DAILY

Last-ditch talks aim to avert Argentina default

Read more

  • Deadly strike hits Gaza market despite four-hour 'truce'

    Read more

  • Fourth female suicide bomber targets Nigerian city

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

  • US rebounds to 4% growth in second quarter

    Read more

  • Suspect in Jewish Museum attack charged with 'terrorist' murder

    Read more

  • Women should not laugh in public, Turkey's deputy PM says

    Read more

  • Video: Coping with rocket attacks in Israel’s Sderot

    Read more

  • Rats on the rampage at Louvre museum gardens

    Read more

  • France evacuates nationals, closes embassy in Libya

    Read more

  • Dozens killed in stampede at Guinea rap concert

    Read more

  • 'Compelling' signs Kosovo leaders trafficked organs, prosecutor says

    Read more

  • Graphic: Ebola spreads across West Africa

    Read more

  • Video: How tourism is helping Rwanda’s gorillas, ex-poachers

    Read more

  • Islamists seize key Benghazi army base as fire rages on

    Read more

  • In pictures: ن - a sign of support for Iraq’s persecuted Christians

    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

COMMENT(S)