HELSINKI, August 30, 2024 – Finland’s economy has taken an unexpected turn as its Gross Domestic Product (GDP) contracted by 1.2% in the second quarter of 2024 on a year-over-year basis, according to the latest data update. This decline comes as a stark contrast to the previous quarter, which saw a growth of 1.5% as of June 2024.The negative growth reported for the current quarter raises concerns about the factors driving this economic downturn. The year-over-year analysis highlights a significant drop compared to the robust performance recorded in the same period last year. Economists and policymakers will be closely examining this data to understand the underlying reasons behind the economy’s reversal and to strategize for recovery.This updated economic indicator underscores the challenges Finland faces in maintaining economic stability and growth. As the numbers come under scrutiny, stakeholders will look for decisive action to steer the country back to positive growth trajectories.The material has been provided by InstaForex Company – www.instaforex.com
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