HELSINKI (dpa-AFX) - Finland's economy contracted in the final quarter of 2024, revised from a slight expansion estimated initially, the latest data from Statistics Finland showed on Friday.
Gross domestic product dropped seasonally and working-day-adjusted 0.2 percent sequentially in the December quarter, reversing a 0.5 percent rise in the previous quarter. In the flash report, GDP showed an increase of 0.1 percent.
On the expenditure side, private consumption fell 0.6 percent, while government consumption rose by 1.2 percent. Data showed that gross fixed capital formation, or investment, remained flat as a rise in public sector investments was offset by a fall in private investments.
On a yearly basis, GDP growth improved to 1.2 percent in the fourth quarter versus 0.9 percent in the previous three-month period.
Separate official data showed that Finland's economic output grew 2.4 percent annually in January versus a 0.8 percent expansion in December. Seasonally adjusted output decreased by 0.5 percent in January from the month ago.
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