Finland Economic Outlook
April 30, 2018Overall, the economy remains in shipshape following last year’s solid fourth quarter. Unemployment fell in March to the lowest rate in just over five years, while consumer confidence remained high. In February, annual growth in economic activity was buttressed by production in the manufacturing and construction sectors. The services sector also grew in February, but output in the primary sector contracted. Meanwhile, the defection on 24 April of a lawmaker from the Blue Reform party to the National Coalition Party—which together with the Centre Party forms the current three-party coalition government—caused political tremors. The government plans to pass major reforms through parliament in June to reduce its annual spending bill and ultimately trim debt below 60% of GDP. If the reforms are not passed, however, the prime minister has threatened to dissolve the government.
Finland Economic GrowthThis year, economic growth is expected to weaken but strong private consumption should help cushion the slowdown. Moreover, accommodative monetary policy and high business confidence should support fixed investment. The government’s ongoing fiscal consolidation will constrain public consumption growth, however. Met the why particular panelists expect GDP growth of 2.5% in 2018, which is unchanged from last month’s forecast, and 2.2% in 2019.
Finland Economy Data
5 years of Finland economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.77||3.70 %||May 16|
|Exchange Rate||8.08||-0.38 %||May 16|
|Stock Market||4,274||0.0 %||May 16|
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Finland Economic News
May 15, 2018
Economic activity grew a working-day adjusted 3.1% in March compared to the same month last year, up from February’s 2.4% expansion and the strongest result since May last year.
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.
April 13, 2018
According to Statistics Finland, the current account was in a surplus for the eighth month in a row in February, at EUR 0.25 billion.
April 13, 2018
Economic activity grew a working-day adjusted 2.4% in February compared to the same month last year, up from January’s revised growth of 2.2% (previously reported: +0.9% year-on-year), according to the latest monthly Trend Indicator of Output released by Statistics Finland.
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.