Finland Economic Forecast

Finland Economic Outlook

January 30, 2018

The economy performed well in the final months of last year, after private consumption dynamics led to a slowdown in the third quarter. From September to November, private sector employees saw their compensation levels increase year-on-year in real terms. This likely gave a boost to retail sales, which grew strongly in the fourth quarter compared to the same quarter a year earlier. Moreover, economic activity growth accelerated in November after a slight lull in October, as manufacturing and construction activity picked up. In December, confidence in the industrial, retail and construction sectors was above average and helped push overall economic sentiment to its highest level in over ten years. Overall, the economy is expected to have expanded at its fastest pace since 2011 last year. More recently, on the political front, Finns re-elected Sauli Niinistö for another term as president on 28 January, a position which is primarily ceremonial but has a role in foreign policy.

Finland Economic Growth

This year, economic growth is expected to moderate somewhat but remain firm as exports continue to grow thanks to healthy demand from abroad and improvements in Finnish cost competitiveness. However, the government’s fiscal consolidation drive will weigh on consumption growth. Met the why particular panelists expect an economic expansion of 2.4% in 2018, which is up 0.2 percentage points from last month’s forecast, and 2.1% in 2019.

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Finland Facts

ValueChangeDate
Bond Yield0.863.70 %Feb 19
Exchange Rate7.84-0.38 %Feb 20
Stock Market4,1430.0 %Feb 20

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Finland Economic News

  • Finland: Growth in economic activity slows in December

    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).

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  • Finland: Economic activity gathers pace in November despite slower services growth

    January 16, 2018

    In November, economic activity grew a working-day adjusted 3.5% compared to the same month of the previous year, up from October’s revised 3.2% increase (previously reported: +2.6% year-on-year).

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  • Finland: Current account surplus shrinks in November

    January 15, 2018

    According to Statistics Finland, which heavily revised its historical data this month, the current account showed a EUR 0.09 billion surplus in November last year, less than the revised EUR 0.18 billion surplus recorded in October (previously reported: EUR 0.54 billion). In the 12 months leading up to November, the current account surplus widened to EUR 1.4 billion, compared to October’s revised cumulative 12-month surplus of EUR 1.2 billion (previously reported: EUR 0.18 billion). The trade surplus narrowed in November against the previous month, recording net inflows worth EUR 181 million compared to October’s revised EUR 284 million surplus (previously reported: EUR 279 million surplus).

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  • Finland: Current account surplus bounces back in October

    December 15, 2017

    The current account surplus came in at EUR 0.54 billion in October, higher than both the EUR 0.08 billion surplus recorded in the previous month and the EUR 0.26 billion surplus totaled in the same month last year. In the 12 months leading up to October, the current account deficit narrowed to EUR 0.18 billion, compared to September’s cumulative 12-month deficit of EUR 0.46 billion. The trade surplus widened marginally in October over the previous month, recording net inflows worth EUR 279 million compared to September’s EUR 220 million surplus.

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  • Finland: Economic growth slows to 11-month low in October

    December 15, 2017

    In October, economic activity grew a working-day adjusted 2.6% over the previous year, down from September’s revised 3.4% increase (previously reported: +3.8% year-on-year).

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