Finnish GDP continued to fall in the first quarter of 2014, a report from Statistics Finland showed Thursday.

Confirming preliminary figures, the statistical office said GDP fell a seasonally adjusted 0.4 percent following the revised 0.2 percent decline in the fourth quarter.

Annually, GDP fell a working day adjusted 0.6 percent, revised from the preliminary estimate of a 0.8 percent decline. In the

Exports declined 1.9 percent quarter-over-quarter, steeper than the revised 0.9 percent decrease in the fourth quarter. Imports fell 2.9 percent compared with the revised 2 percent decline in the fourth quarter.

Private consumption rebounded by 1.1 percent in the first quarter following the 0.7 percent decline in the previous quarter.Gross fixed capital formation declined 0.3 percent, slower than the 3.2 percent decline in the fourth quarter.

Production-side analysis showed that manufacturing and mining output fell 2.6 percent, with production of chemical products and electronic products declining 5.7 percent and 4.8 percent, respectively. Output of the primary sector was down 0.8 percent.

RTTNews