2022.05.1707:11:00UTC+00Finland GDP Growth Slows In Q1

Finland's economic growth eased in the first quarter as the war in Ukraine hurt and high inflation damped activity in the industrial sector in March, preliminary estimates from Statistics Finland showed Tuesday.

Gross domestic product grew around 0.4 percent from the fourth quarter of 2021, when the economy expanded 0.6 percent.

On a year-on-year basis, GDP rose a working-day adjusted 4.3 percent, after a 2.9 percent growth in the previous three months.

Statistics Finland is set to release detail data about the economic performance in the first quarter on May 31.

The monthly indicator of national economic output rose a working-day adjusted 5.4 percent annually in March after a 3.6 percent increase in February. Output edged up a seasonally adjusted 0.2 percent from the previous month.

Primary production, which includes farming, hunting, forestry and fishing, decreased around 4 percent annually. Secondary production that includes manufacturing and construction rose around 6 percent and services output grew nearly 5 percent from a year ago.