Finnish economy expands above expectations in Q3

The preliminary report of Finland’s economic growth for the third quarter came in above expectations. The Finnish economy grew 1.1 percent, putting the nation amongst the best performers in the euro area currently, noted Nordea Bank in a research report.

On a sequential basis, the economy expanded 1.1 percent and grew 3.6 percent year-on-year. Growth was a bit stronger than assumed, implying that projections might be required to upwardly revise. The starting point for next year is beginning to seem pretty promising, and the current 2 percent growth projection suddenly appears slightly on the low side.

The service sector grew quickly and is the main driver of economic growth. Meanwhile, the secondary production rose year-on-year, but the sequential change is slightly unclear.

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