2020.02.1413:05:00UTC+00Finland Economy Shrinks In Q4

Finland's economy contracted in the final three months of 2019, preliminary estimates from Statistics Finland showed on Friday.

Seasonally adjusted gross domestic product decreased 0.4 percent from the previous quarter, the agency said. In the three months to September, the economy expanded 0.7 percent. On a working-day adjusted basis, GDP grew 1.4 percent from the fourth quarter of 2018. In the third quarter, growth was 2.2 percent. The statistical office also reported that the number of employed rose by around 0.6 percent from the previous year during the fourth quarter.

In December, the output of the national economy grew by a working day adjusted 0.5 percent year-on-year after a 1.6 percent increase, which was revised from 2.3 percent.

Primary production decreased by around 3.3 percent and secondary production grew by about 0.8 percent. Services output rose by around 0.3 percent from December 2018.

On a seasonally adjusted basis, output fell 0.4 percent from the previous month.