Finland Economic Forecast

Finland Economic Outlook

October 23, 2018

The economy expanded robustly in the first two months of the third quarter. Growth was resilient in primary production—which captures agriculture, forestry and fishing activity—in July–August compared to the same period a year earlier, despite hot temperatures in August weighing on agriculture activity. Moreover, secondary production—which includes the manufacturing and construction sectors—grew strongly. Services output—the largest form of production—increased modestly. Fundamentals were good in Q3: Unemployment remained low through to August, and business and consumer confidence remained in optimistic territory in September. Meanwhile, union protests began in early October opposing government employment law proposals. In response, the government called for and won a confidence vote in parliament on 17 October. Nevertheless, protests are set to continue later in the month.

Finland Economic Growth

Economic growth next year should be underpinned by lower unemployment and robust fixed investment growth, which should benefit from accommodative monetary policy and high business confidence. With that said, the government’s ongoing fiscal consolidation will constrain public consumption growth. Met the why particular panelists expect GDP growth of 2.1% in 2019, which is unchanged from last month’s forecast, and 1.8% in 2020.

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Finland Facts

Bond Yield0.643.70 %Nov 15
Exchange Rate8.49-0.38 %Nov 15
Stock Market3,9150.0 %Nov 15

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