Statistics Finland on Thursday reported that the volume of the gross domestic product increased by 1.2 per cent quarter-on-quarter and by 3.1 per cent year-on-year between January and March, finally rebounding to the levels preceding the financial crisis that erupted in 2007–2008.

Economists on Thursday expressed their delight with the improved economic situation in Finland.

“That’s it. The lost decade ended in the second half of April! Now for a new rise,” rejoiced Hannu Nummiaro, an economist at Lähi-Tapiola.

“We can be pleased if the growth rate settles at 1.5 per cent after the upturn,” he added.

“This Midsummer, you can celebrate not only the Finnish summer but also the fact that the Finnish economy will edge above its previous peak in terms of GDP volume between April and June. It did take a while,” tweeted Timo Hirvonen, the chief economist at S Bank and FIM Finland.

Others also voiced their confidence that the robust growth would continue in the months to come.

“Finland’s GDP started the year by growing over three per cent driven by investments and consumption,” commented Juhana Brotherus, the chief economist at the Mortgage Society of Finland (Hypo).

“The growth was strong particularly in machine and equipment investments and residential construction. This is an excellent start to the year, and it’s not inconceivable that the three per cent growth continues for the rest of the year,” he viewed.

Aleksi Teivainen – HT

Photo: Onni Ojala – Lehtikuva

Source: Uusi Suomi