Finland Economic Outlook
June 26, 2018In the first quarter of 2018, the economy maintained its growth momentum from Q4 2017, with quarter-on-quarter growth accelerating to an over seven-year high. This was due to fixed investment surging on the back of higher private sector investment. Moreover, government consumption increased in Q1, contrasting the fall in Q4. However, although unemployment decreased, and consumer confidence hit record highs, private consumption growth decelerated in Q1 from Q4. This may have been due to high household debt levels weighing on consumer spending. The external sector, for its part, detracted from growth. Meanwhile, the economy had a weak start to Q2. In April, economic activity expanded year-on-year at the slowest pace since August 2016. The current account balance also logged a deficit for the second consecutive month in April.
Finland Economic GrowthAn expansion in private consumption should support economic growth in 2018 as unemployment dips from 2017. Moreover, accommodative monetary policy and high business confidence are seen supporting an expansion in fixed investment. However, the government’s ongoing fiscal consolidation will likely constrain government consumption growth. FocusEconomics panelists expect GDP growth of 2.7% in 2018, which is up 0.2 percentage points from last month’s forecast, and 2.2% in 2019.
Finland Economy Data
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|Bond Yield||0.50||3.70 %||Jul 17|
|Exchange Rate||8.15||-0.38 %||Jul 17|
|Stock Market||4,287||0.0 %||Jul 17|
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Finland Economic News
July 13, 2018
Economic activity grew a working-day adjusted 3.4% in May compared to the same month last year, up from the revised 2.6% expansion in April (previously reported: 1.8% year-on-year). Increased activity in May came as services production, the largest output category in Finland, expanded 3.8%, up from 2.9% in April.
June 15, 2018
Economic activity grew a working-day adjusted 1.8% in April compared to the same month last year, down from a significantly revised 4.0% in March (previously reported: +3.1% year-on-year) and the lowest growth rate since August 2016.
June 15, 2018
The current account balance improved in May but nevertheless remained in deficit for the third consecutive month.
May 30, 2018
In Q1 2018, the economy expanded for the tenth consecutive quarter, with growth accelerating to an over seven-year high.
May 15, 2018
In March, the current account was in a deficit for the first time since June last year due to a deterioration in the primary and secondary income accounts, according to Statistics Finland. The current account, logging a deficit of EUR 0.14 billion in March, was lower than February’s EUR 0.25 billion surplus.