Finland Economic Outlook
November 20, 2018The economy is having a good run this year. Preliminary economic growth was unchanged in Q3 compared to Q2 in quarter-on-quarter terms, which proved faster than the Euro-area average. Private consumption likely played a key part in the growth story in Q3 given that the unemployment rate fell to a five-and-a-half year low and consumer confidence remained high, even though it moderated slightly from the previous quarter. In terms of the external sector, the current account balance posted its best reading in three quarters in Q3, although it remained in a deficit. Meanwhile, protests in opposition to government employment law proposals were called off in late October by the Finnish Industrial Union. On 6 November, tripartite negotiations regarding these proposals—which included government, labor and business representatives—concluded with a consensus. Reduced risks of labor disruption bodes well for the economy in Q4.
Finland Economic GrowthWhile economic growth next year will remain underpinned by private consumption—buttressed in particular by a tighter labor market—the government’s ongoing fiscal consolidation will constrain public consumption growth. FocusEconomics panelists expect GDP growth of 2.1% in 2019, which is unchanged from last month’s forecast, and 1.8% in 2020.
Finland Economy Data
5 years of Finland economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.57||3.70 %||Dec 11|
|Exchange Rate||8.58||-0.38 %||Dec 11|
|Stock Market||3,730||0.0 %||Dec 11|
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Finland Economic News
November 30, 2018
Economic growth accelerated in the third quarter of 2018 compared to the second quarter.
November 14, 2018
Consumer prices rose 0.2% in October, down from the 0.3% increase in September.
November 14, 2018
Economic activity grew a working-day adjusted 3.2% in September compared to the same month last year, up from the revised 2.6% expansion in August (previously reported: +2.3% year-on-year). The economy was driven by a more upbeat sector-by-sector performance.
October 16, 2018
The current account balance fell back into a deficit in August.
October 15, 2018
Economic activity grew a working-day adjusted 2.3% in August compared to the same month last year, up from the revised 1.7% expansion in July (previously reported: +1.5% year-on-year). The economy had a mixed sector-by-sector performance in August.