Finland suffers double dip
Thursday 10 June 2010
Finland has become the first European Union country to suffer a double-dip recession after its economy contracted again in the first quarter of 2010, hit by a port strike in March and a colder than usual winter.
Data yesterday showed January-March gross domestic product (GDP) fell 0.8 per cent versus a year ago and 0.4 per cent against the fourth quarter of 2009. October-December GDP was also revised to show drops of 5.2 per cent annually and 0.2 per cent on a quarterly basis.
Export-dependent Finland had one of the deepest recessions in the European Union last year, with GDP plummeting 7.8 per cent as the global downturn dented demand for mobile phones, paper and machines.
A recovery is expected to be slow, with the IMF forecasting growth of just 1.25 per cent in 2010 and 2 per cent in 2011.
Much-loved cartoon character returns - without Sir David Jason
Liam Neeson's Downton dreams
Matt Smith is set to join cast of the Jane Austen classic - with a twist
Actress to appear in second series of the hugely popular crime drama
Olympic diver has made his modelling debut for Adidas
- 2 Scottish independence: Learn from Quebec's mistakes and beware of promises. Vote Yes.
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 5 Have you heard about the film Singapore has banned its people from watching? Well, you have now
Thailand beach murders: Thai PM suggests 'attractive' female tourists cannot expect to be safe wearing bikinis
Scottish independence: Final opinion polls show undecided voters could swing result either way
Scottish independence: Almost half of No voters have felt 'personally threatened' by the Yes campaign
Isis release 'Flames of War' video warning Obama of attacks troops could face in Iraq
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Portuguese academic says British are 'filthy, violent and drunk'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
iJobs Money & Business
£70-90,000: Saxton Leigh: Our client a London Market Insurer are seeking a Pro...
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...