Finland Economic Outlook
February 27, 2018Recent indicators point to an economy that has been in good shape since the third quarter of last year, in which weak private consumption led to an overall slowdown. Positive signals include upward revisions to Statistic Finland’s monthly economic activity estimates from September to November. In addition, although economic activity growth slowed month-on-month in December, it remained high by historical standards and capped off a strong fourth quarter. Furthermore, although economic sentiment decreased month-on-month in January—a decrease that was consistent with a dip across the euro area as a whole—it remained elevated, while consumer confidence, specifically, hit an all-time high. However, discouragingly, real wages fell in Q4—albeit at a reduced rate compared to Q3—likely weighed on by measures agreed as part of the Competitiveness Pact.
Finland Economic GrowthEconomic growth is expected to slow this year but remain robust, partly thanks to increased exports amid improvements in Finnish cost competitiveness. The economy will also benefit from loose monetary policy and high business confidence, which should support fixed investment. However, the government’s ongoing fiscal consolidation will constrain public consumption’s contribution to growth this year. FocusEconomics panelists expect an economic expansion of 2.4% in 2018, which is unchanged from last month’s forecast, and 2.1% in 2019.
Finland Economy Data
5 years of Finland economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.76||3.70 %||Mar 14|
|Exchange Rate||7.71||-0.38 %||Mar 15|
|Stock Market||4,113||0.0 %||Mar 15|
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Finland Economic News
March 16, 2018
Economic activity grew a working-day adjusted 0.9% in January compared to the same month last year, down from December’s revised growth of 2.7% (previously reported: +3.6% year-on-year), according to the latest monthly Trend Indicator of Output released by Statistics Finland. The deceleration in year-on-year growth in economic activity in January was largely due to a weaker expansion in services production, the most significant form of production in Finland, and a contraction in primary production, which includes agriculture, hunting, forestry, and fishing activity.
March 15, 2018
According to Statistics Finland, the current account was in a surplus of EUR 0.27 billion in January, lower than December’s upwardly-revised EUR 0.40 billion surplus (previously recorded: EUR 0.06 billion deficit).
February 28, 2018
According to preliminary data released on 28 February by Statistics Finland, the economy picked up growth momentum in the fourth quarter of 2017.
February 15, 2018
According to Statistics Finland, the current account was in a deficit of EUR 0.06 billion in December, a deterioration compared to November’s surplus of EUR 0.09 billion.
February 14, 2018
Economic activity grew a working-day adjusted 3.6% in December compared to the same month of the previous year, down from November’s revised 4.3% increase (previously reported: +3.5% year-on-year).