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Nov 8, 2012 | 10:35 GMT

Finland: Decline In Exports Pushing Economy Toward Recession

Finland's economy contracted 1.1 percent from the first to the second quarter of 2012, Bloomberg reported Nov. 8. Exports fell 8 percent year-over-year in September; sales to the European Union fell 14 percent in that period, the customs office said. Finland looks to be in a recession, Roger Wessman, Helsinki-based chief economist at Nordea Bank AB, said. Changes within the eurozone are causing Helsinki to re-evaluate its place within the group.

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