Finland Q2 GDP Drops Further

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Tuesday, the Statistics Finland said in a report that the gross domestic product or GDP decreased a working day adjusted 9.4% year-on-year in the second quarter, after falling 7.6% in the first quarter. Economists expected the GDP to fall 7.3%.

Sequentially, the GDP was down 2.6% in the second quarter, compared to the 3% fall in the first quarter, revised from 2.7% decline reported initially.

In the second quarter, the volume of private consumption declined 3.4% on an annual basis, while investments decreased 11.7%.

The gross domestic product or GDP indicator dropped a working day adjusted 11.1% year-over-year in June, compared with a 11.4% fall in the previous month.

Tuesday, the Statistics Finland said in a report that the gross domestic product or GDP decreased a working day adjusted 9.4% year-on-year in the second quarter, after falling 7.6% in the first quarter. Economists expected the GDP to fall 7.3%. (Market News Provided by RTTNews)