Finland's GDP shows modest recovery in Q2

Finland's seasonally adjusted gross domestic product (GDP) grew by 0.4 percent in the second quarter of this year (Q2) compared to the previous quarter, indicating a modest recovery from the recession, according to preliminary data released by Statistics Finland on Wednesday, reported Xinhua.

The country's GDP in Q2 remained 0.7 percent lower than in the same quarter of the previous year, figures from Statistics Finland show.

Danske Bank's chief economist, Pasi Kuoppamäki, said the figures suggest Finland is recovering from recession, but the economic situation remains fragile.

Penna Urrila, chief economist of the Confederation of Finnish Industries, noted that while the Finnish economy shows cautiously positive figures, it remains sluggish. He noted that these are preliminary figures that may be revised, but suggested that "the worst might already be behind us."

The Finnish economy began contracting in the third quarter of 2023 and had been on a downward trend until May this year.

Additionally, the number of employed people decreased by 1.7 percent in the second quarter of this year compared to the same period of last year.