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Amid other improvements, Finland's GDP grows 3.6%

The Finnish economy continued a strong upward curve during this year's third quarter, according to preliminary figures from Statistics Finland. Unemployment figures and inflation also improved last month.

kolikoita Suomen lipun päällä
File photo. Image: Ismo Pekkarinen / AOP

In terms of its economy, some observers have called Finland the "sick man of Europe." One expert said the country's recent economic improvements were merely a "fluke."

New figures from Finland's statistics agency find, however, that -- at least for the time being -- the country's economy continued to grow during the third quarter. And according to the agency's figures, Finland's economy has expanded since the beginning of 2015.

According to Statistics Finland's preliminary figures, the seasonally-adjusted GDP was 3.6 percent higher in 2017's third quarter compared to the same period a year ago.

Compared to last quarter, the agency said, the country's seasonally-adjusted third quarter GDP rose by 1.1 percent.

Jobs numbers also up

Statistics Finland reports that employment numbers are also headed slightly upwards, citing a 0.5 percent increase compared to the same July-September period of 2016.

The agency says that productivity in Finland's economy grew by 3.8 percent in September compared to same month the previous year.

Inflation slowed in October

Statistics Finland also reports that the inflation of consumer goods prices slowed somewhat in October; from September's 0.8 percent to 0.5 percent in October.

The agency said the October inflation rate was kept in check due to fuel prices not rising as precipitously they did in September.

Consumer prices rose due to increased costs of vehicle taxes, prices of electricity and cigarettes, as well as housing rental costs.

Inflation was kept at bay due to lowered prices of mobile phones, used vehicles and lower housing loan interest rates.

Finland's inflation rate is significantly lower than in the rest of the EU, according to the statistics agency.

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