Finland's economy contracts 0.3 pct in Q3 as unemployment rises

Helsinki [Finland], November 29: Finland's economy contracted by 0.3 percent in the third quarter of 2025 from the previous quarter and by 0.6 percent year-on-year, Statistics Finland said Friday.
By contrast, the European Union's gross domestic product (GDP) grew by 0.3 percent quarter-on-quarter, preliminary Eurostat data showed.
The unemployment rate reached 9.2 percent in the third quarter, up from 7.8 percent a year earlier.
Chief economist Patrizio Laina of the Central Organization of Finnish Trade Unions (SAK) told the local newspaper Kansan Uutiset that the unemployment figures put the annual average close to levels last seen during the deep recession of the early 1990s.
"In light of the modest decline in GDP, Finland is rather in a phase of stagnant growth or a small slump," he added.
According to the Finland Chamber of Commerce, Finland last recorded quarterly GDP growth in autumn last year. Since then, the country has experienced four consecutive quarters of contraction or zero growth.
The figures published by Statistics Finland were weaker than expected, said Jukka Appelqvist, chief economist at the Finland Chamber of Commerce.
"Economic forecasts for the current year have already had to be revised down several times, and the latest data show that there is still considerable downward pressure on the outlook. Growth for the whole year will be close to zero," Appelqvist said.
Source: Xinhua News Agency