Finland in double-dip recession
By Chief Pistol Packin' Mama on June 14, 2010 in Indicators of need for prepsFinland’s economy slipped back into recession during the first three months of 2010, official figures have shown.
During the January to March quarter, its economy contracted by a seasonally-adjusted 0.4%, after a decline of 0.2% in October to December of last year.
It is the first eurozone country to re-enter recession after emerging from it, in what is known as a double-dip.
Finland, whose main exports include paper and Nokia mobile phones, was hit hard by the downturn in global trade.
However, official figures, also released on Thursday, showed that its exports have since recovered.
The country’s exports rose 7% from a year earlier to 4.4bn euros ($5.3bn; £3.6bn) in April, the biggest growth since November 2008.
