(Bloomberg) -- Finland’s economy grew largely in line with earlier projections in the third quarter, confirming the Nordic nation is on a path to recovery that’s expected to pick up pace next year.
Gross domestic product expanded 0.3% in the quarter through September from the previous three-month period, when it grew a revised 0.1%, Statistics Finland said on Friday, citing data adjusted for seasonal swings. The third-quarter expansion was slightly smaller than the 0.4% growth indicated by a flash estimate earlier this month.
Three consecutive quarters of growth contrasts with the median of projections compiled by Bloomberg for a drop of 0.4% this year, slightly steeper than the 0.2% forecast by the Finance Ministry.
Finland’s economy has been one of Europe’s worst performers since before the pandemic. Most economists expect a recovery in 2025 on the back of rising purchasing power as inflation slows and the European Central Bank has cut borrowing costs. The International Monetary Fund projects Finnish GDP to grow by 1.6% in 2025.
Earlier this week, several economists raised concerns over the country’s worsening unemployment trend, saying it underscores an entrenched weakness in the northernmost euro area economy.
--With assistance from Joel Rinneby.
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