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UPDATE 1-Finland posts solid growth in February as economy picks up pace
April 13, 2017 / 6:51 AM / 8 months ago

UPDATE 1-Finland posts solid growth in February as economy picks up pace

 (Adds comment, background)
    HELSINKI, April 13 (Reuters) - Finland's economy expanded
3.0 percent in February compared with the same month last year,
the statistics office said on Thursday, adding to signs the
economy is picking up pace after a decade of stagnation.
    Finnish economic output is still below levels prior to the
financial crisis of 2008 as exports have been hit by a string of
problems including the decline of Nokia's            former
phone business, high labour costs and a recession in
neighbouring Russia.
    The Nordic euro zone economy's growth figure for January was
revised up to 3.7 percent from an initial estimate of 2.4
    "These are very strong figures for January and February...
If no new crises come in the world that would hamper our
exports, the year may prove better than expected," said Pasi
Kuoppamaki, economist at Danske Bank.
    The central bank expects economic growth to accelerate this
year to 1.6 percent from 1.4 percent in 2016 on strong consumer
confidence, recovering exports and investment.
    The statistics office also reported that inflation slowed to
0.8 percent in March from 1.2 percent in February and that the
current account balance for February was 100 million euros in

 (Reporting by Jussi Rosendahl; Editing by Hugh Lawson)

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