Can Microsoft Help Finland’s Economy?
CEIC Macro Watch: On 3 September 2013, Microsoft finally entered into an agreement to acquire substantially all of the devices and services business in Nokia, a global producer of mobile phones headquartered in Finland. Following the announcement, the OMX Helsinki Technology Index increased by 56.3% (month-over-month) in September 2013. Nokia was once a big contributor to Finland’s economy. Since the third quarter of 2007, the gross value added (GVA) from the electronic products and electrical equipment sector has been decreasing significantly (-79%), in parallel with an 87% decline in the Helsinki Technology Index, as of June 2013. Taking this trend into account, it remains to be seen whether the recent upsurge in technology stocks is foretelling at an increase in output of electronic products and electrical equipment in the coming quarters. By Howard Ho - CEIC Analyst Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog