Finland's national output declined further in October, indicating that the economy likely remained in recession in the fourth quarter, data from Statistics Finland showed Wednesday.

Gross domestic product (GDP) declined a working-day adjusted 0.7 percent year-on-year in October, after falling 1.6 percent September, which was revised from 1 percent. In August, GDP dropped by 0.4 percent.

Secondary production dropped 1 percent and primary production declined 2 percent compared to October 2011. Services, meanwhile, remained unchanged year-on-year.

Compared to September, however, output increased a seasonally adjusted 0.5 percent in October, data showed.

In the third quarter, the Finnish economy slipped into a mild recession, with GDP dropping 0.1 percent sequentially after falling 1.1 percent in the second quarter.

Year-on-year, the economy shrank 1.2 percent, which was faster than the second quarter's 0.3 percent contraction.

RTTNews