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Finnish GDP May Slow

Finnish GDP May SlowFinnish GDP May Slow

The Finnish economy remained robust in the spring and early summer, but there was a hint of slowing in June in data released Tuesday by Statistics Finland. The figures indicate that Finland’s seasonally adjusted GDP rose by half a percentage point between the first and second quarters, Yle reported. However seasonally adjusted output slipped by 0.3% from May to June. Meanwhile the number of people working was about 2% higher than a year earlier. The number of hours worked outpaced that, climbing by 3% in a year. Preliminary data for July suggest that inflation is on the rise. State number-crunchers estimate that consumer prices edged up by 1.4% last month on a year-on-year basis. In June the rate was 1.2%. Statistics Finland points to higher price tags on items such as petrol, cigarettes and hotel stays as driving the growth in inflation from June to July. The central statistics office notes that these latest figures are still preliminary, promising more fine-grained data at the end of August.

 

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