Finland Economic Forecast

Finland Economic Outlook

September 26, 2017

Detailed data for the second quarter points to a sustained and broad-based economic expansion, in contrast to preliminary data released in August which had indicated a poorer economic performance. In the second quarter, private consumption growth reached a five-year high despite a near country-wide wage freeze that took effect at the beginning of the year, as household spending benefited from low inflation and cheap credit. Government consumption and fixed investment growth also improved in the quarter. Although the external sector performed poorly, strong global demand coupled with productivity improvements in Finland should see the sector performing well over the year as a whole. Growth momentum appears to have been sustained in the third quarter according to recent figures: In July, industrial output and economic activity came in strong, while the current account balance returned to surplus.

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Finland Facts

ValueChangeDate
Bond Yield0.55-6.78 %Oct 16
Exchange Rate7.900.12 %Oct 16
Stock Market4,0490.01 %Oct 16

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Finland Economic Growth

September 26, 2017

Strong private consumption, fixed investment and external dynamics will continue to boost the Finnish economy going forward. However, the government’s fiscal position—which is under scrutiny since the government breached the debt-to-GDP ratio ceiling of 60% three years ago—will ensure that government consumption growth only modestly contributes to that of the wider economy. FocusEconomics panelists see GDP growing 2.5% this year. In 2018, analysts expect GDP growth to slow to 1.8%, which is up 0.2 percentage points from last month’s projection.

Finland Economic News

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