Finnish Economy Stagnates at End of 2016

Finland’s economy stagnated in the last quarter of the year, with GDP growth falling flat at just 0 per cent in the three months to the end of December, the Financial Times reported. Outside its peers in the southern eurozone, Finland’s economy has been one of the worst performing in the 19-member bloc since the financial crisis struck in 2008. The country’s recovery has struggled to gain any momentum, with the fourth quarter GDP following on from a 0.6 per cent expansion in the period prior and a -0.15 per cent contraction in the second quarter (see chart above), all on a quarter-on-quarter basis. Year on year growth was 1.3 per cent, according to Statistics Finland, with annual GDP expansion in 2016 coming in at a respectable 1.6 per cent. The eurozone’s average was 1.7 per cent last year. Read more.(Subscription required.)