Bank of Finland expects continuing recession in 2013
The Bank of Finland has slashed its growth forecasts in the face of a "muted" economic performance and waning consumer confidence.
In its latest economic bulletin, released today, the central bank forecasts a 0.8% contraction in GDP in 2013 but predicts it will "begin to grow gently" before the end of the year.
This should lead to growth of 0.7% in 2014 and 1.4% in 2015 as exports and investment begin to recover from the Nordic country's industrial restructuring and the "sluggish international
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