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.
- 1 What marriage would look like if we actually followed the Bible
- 3 The Chinese city where men have 'three girlfriends because there are so many women'
- 4 'Heartbreaking' Syria orphan photo wasn't taken in Syria and not of orphan
- 5 Orthorexia nervosa: How becoming obsessed with healthy eating can lead to malnutrition
Britain to take more refugees as Cameron bows to pressure after more than 250,000 back our campaign
Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Make your voice heard: Sign The Independent's petition to welcome refugees
iJobs Money & Business
£16000 - £40000 per annum: Recruitment Genius: A Foreign Exchange Dealer is re...
£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...
£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...
£14000 - £16000 per annum: Recruitment Genius: This company was established in...