FX.co ★ Finland GDP Recovers 0.5% In Q1

Finland's economy experienced growth in the first quarter following contractions in the previous two quarters, according to preliminary data released by Statistics Finland on Wednesday.

The country's gross domestic product (GDP) increased by 0.5 percent on a seasonally and working-day-adjusted basis in the March quarter, recovering from a 0.7 percent decline in the prior quarter.

In the third quarter of the current year, GDP registered a negative growth of 1.1 percent.

For March, the national economy's output fell by 0.8 percent annually, after an adjusted 1.5 percent increase in February.

Primary production and tertiary activities saw growth rates of approximately 4.4 percent and 1.9 percent, respectively, year-over-year in March. This growth was counterbalanced by a 7.5 percent drop in secondary production.

On a month-to-month basis, GDP fell by 1.0 percent in March following a 0.1 percent increase in February.