Bloomberg News

Finland Economy to Contract Less Than Estimated, Sampo Bank Says

March 13, 2012

Finland’s economy will shrink less this year than previously forecast, Sampo Bank, a unit of Danske Bank A/S (DANSKE), said.

Gross domestic product will contract 0.2 percent in 2012, before growing 2 percent in 2013, Sampo Bank said in an e-mailed statement today. It had forecast a 1 percent contraction for this year on Dec. 13.

The outlook is “brighter” as exports and investments will boost the northernmost euro member’s economy toward the end of the year, Lauri Uotila, senior adviser at the Helsinki-based bank, said in the report. Sales abroad account for about 40 percent of Finland’s economy.

To contact the reporter on this story: Kati Pohjanpalo in Helsinki at kpohjanpalo@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net


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