Finland Economy Shrinks 0.4% On Manufacturing Downturn

(RTTNews) - Finland's gross domestic product declined for the first time in twenty months in November, largely attributed to the contraction in the industrial sector and, to a lesser extent to the slowdown in the services, data from Statistics Finland showed on Friday.

Output of the national economy fell a working-day-adjusted 0.4 percent year-over-year in November, reversing the revised 0.3 percent rise in October.

Further, the economic output decreased for the first time since March 2021.

On a seasonally adjusted basis, output dropped 0.4 percent following a 0.5 percent fall a month ago.

Among sectors, output produced in the primary sector grew by about 5.5 percent. This was offset by a 1.6 percent decline in the secondary sector along with a 0.2 percent contraction in the tertiary sector.