Finland Economic Forecast

Finland Economic Outlook

September 25, 2018

Economic growth slowed in the second quarter of 2018. The quarter-on-quarter expansion in both government consumption and fixed investment moderated in Q2 compared to the first quarter. However, private consumption grew faster in Q2 as the jobless rate fell to a near one-decade low in June. Furthermore, the external sector contributed to economic growth in Q2. Turning to Q3, the panorama looks mixed thus far: Economic activity increased at the weakest annual pace in three months in July due to anemic growth in services production; while in the same month the current account balance recorded a surplus for the first time in nine months. Looking ahead, the government submitted its 2019 budget to parliament in September, which contains EUR 0.5 billion less spending than this year and EUR 1.8 billion more projected revenue.

Finland Economic Growth

Both this year and next, economic growth should be underpinned by lower unemployment and robust fixed investment growth, which will likely benefit from accommodative monetary policy and high business confidence. However, the government’s ongoing fiscal consolidation is expected to constrain public consumption growth. Met the why particular panelists expect GDP growth of 2.7% in 2018 and 2.1% in 2019, which is down 0.1 percentage points from last month’s forecast.

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Finland Facts

Bond Yield0.763.70 %Oct 16
Exchange Rate8.15-0.38 %Oct 16
Stock Market4,0820.0 %Oct 16

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