Wednesday, December 05, 2012 5:38 am
Finland's economy slips into recession
The Associated Press
Statistics Finland said Wednesday economic output fell 1.1 percent in the second quarter. That puts Finland in recession, commonly defined as two consecutive quarters of quarterly economic contraction.
Consumer demand was up 0.8 percent in the third quarter but investments dropped by 1.1 percent.
Compared with a year earlier, GDP was down 1.2 percent, with exports falling 1.8 percent.
The conservative-led coalition government of Finland, a rich country with healthy finances, has warned it will need to help the economy and contain growing inflation as the European crisis hurts exports.