Finland's economy was slightly reduced last year, but showed an increase in January

The latest data provides several mixed signals about the state of the Finnish economy.

People in winter coats walking in an outdoor urban winter area, with park benches and decorative lights. — Image: Henrietta Hassinen / Yle

The gross domestic product in Finland (GDP) contracted 0.2 percent last year, compared to 2023, Finland’s statistics said on Friday. This was in a strong contrast with the average EU growth of 0.9 percent last year, based on preliminary data from Eurostat.

In the last three months of 2024, the volume of exports has decreased by 0.9 percent compared to the previous quarter. Meanwhile, imports have decreased by 1.4 percent, and private consumption has decreased slightly. As well as private investments, although investments in the public sector increased by 2.3 percent.

Also on Friday, the Official Office of Statistics said that economic production has increased by 2.4 percent in January compared to a year earlier, when it was adjusted for working days. However, seasonal adjusted production has decreased by half a percentage point compared to December.

The prospect of consumers still mourning

A day earlier, Finland statistics said that consumers’ confidence remained low in February, showing more pessimism than in previous months.

The confidence index of consumers was at -9.0 in February, decreasing from -8.4 in January and -8.6 in December. However, it was a little brighter than a year earlier, when it was -9.5. All these readings are much darker than the long -term CCI average of -2.6.

This month, people expressed more pessimism about employment tendencies, more seeing the personal threat of unemployment.

About 1,300 adult residents in Finland were interviewed for the trustworthy study of consumers during February 1-18.

Most said this is not a good time to buy durable goods with big tickets or a new house, against the background of additional inflation fears.

This is preparing with the last week’s report from the Consumer Union, which has confirmed that many consumers are still experiencing daily expenses Food prices.

Users with a YLE ID can leave comments to our news. You can create your yle ID through This link. Explain the guidelines on comments and moderation Here.