The reading means that the Finnish economy may have exited recession.
Finland’s economy grew strongly in the first quarter, according to preliminary data released Tuesday by Statistics Finland. Seasonally adjusted GDP is expected to grow by about 1.1 per cent in January-March compared to the previous quarter.
The reading means that the Finnish economy may have exited recession. Finland fell into a technical recession in the second half of last year, when the economy contracted during the third and fourth quarters.
Based on Twitter comments, Finnish economists were surprised by the economic growth at the start of the year.
– The economic forecasts of economists will be updated, Tweeted Timo Hirvonen, chief economist at Handelsbanken.
Economic growth estimates can still be fairly accurate if more information is available about economic growth at the beginning of the year.