Finland’s unemployment surged to a nine-month high last month as the government coalition meets to discuss further austerity measures in the northernmost euro member.
Finland is shuttering factories that make up the backbone of its export industry faster than it’s investing in new companies.
Finland’s economy shrank less than economists estimated in the fourth quarter, easing pressure on Prime Minister Jyrki Katainen’s government as he struggles to contain debt growth in the northernmost euro member.
Finland entered its third recession in six years, preliminary data showed, as government efforts to halt debt growth collided with the longest industrial slump in 20 years.
Finland, reeling from a slump in its two main industries, is finding that a weak economy has turned a number of its businesses into attractive acquisition targets.
Finland’s economy grew faster last quarter than the average for the 17-nation single currency bloc, which may face a recession as the sovereign-debt crisis deepens.
Finland’s economy stalled in the fourth quarter as Europe’s deepening debt crisis hurt exports.
Following is a detailed table of the July indicator of total output report from Statistics Finland in Helsinki:
Finland’s economy shrank in the first quarter, entering a recession as its fellow euro-area countries struggle with austerity and surging unemployment.
Following is a summary of the July indicator of total output report from Statistics Finland in Helsinki: