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<\/p>\nWhile GDP declined slightly between July and September, there were other signs that the economy may be gradually perking up.<\/p>\n
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Open image viewer<\/p>\n
Exports perked up slightly in the 3rd quarter (file photo of Helsinki’s Vuosaari port). Image: Vesa Marttinen \/ Yle<\/p>\n
Finland’s gross domestic product (GDP) shrank slightly in the third quarter of this year, down by 0.3 percent from the previous quarter.<\/p>\n
Adjusted for working days, GDP between July and September was down by 0.6 percent compared to a year earlier, Statistics Finland said on Friday.<\/p>\n
Finland is heading in the opposite direction from the rest of the European Union, where GDP grew by the same margin \u2013 0.3 percent \u2013 in the late summer and early autumn compared to the previous three-month period.<\/p>\n
Private consumption and investments up<\/p>\n
Finland\u2019s private consumption edged up by 0.2 percent in July-September from the spring and early summer. Public expenditures went down by the same factor amid continuing austerity measures, according to the state statistical bureau.<\/p>\n
Similarly, private investments were up slightly while public investments fell by four percent.<\/p>\n
In the July-to-September period, exports and imports both increased by around two percent, suggesting that the economy may be gradually perking up.<\/p>\n