The hardships of Finnish industries are beginning to resemble the country's recession in the early 1990s. On Monday, Statistics Finland reported that industrial output has contracted for two consecutive years for the first time in two decades. “It's surprising that industrial output and new orders in manufacturing failed to grow last year, despite several forecasts indicating that they would,” says Kari Rautio, a senior statistician at the statistical office.
HS in English
Industrial output plummets akin to 1990s
In comparison to the previous year, industrial output slipped by 3.4 per cent in 2013, according to preliminary data. In 2012, the output declined by roughly two per cent year-on-year. The value of new orders, in turn, fell by 6.