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Finland Economic Forecast

Finland Economic Outlook

bet360备用网址March 3, 2020

Economic activity contracted sharply in the fourth quarter of 2019, according to recently released GDP data, dragging growth for the full year down to a four-year low. Weaker domestic demand drove the downturn, with government spending, private consumption and fixed investment all contracting in quarter-on-quarter terms. A stronger external sector cushioned the deceleration, however, with exports holding up well despite tough global trading conditions and imports dipping compared with Q3. Turning to the beginning of this year, momentum appears to be slipping further: In January, retail sales growth was well below the average level from Q4 2019, while consumer confidence was lodged firmly in negative territory in January–February. More positively, however, mild inflation and a still-tight labor market should offer some upside support to private consumption at the outset of the year.

Finland Economic Growth

Growth is expected to pick up marginally this year. Domestic demand should strengthen amid a tight labor market and a rebound in investment, offsetting a slowing external sector. That said, a toughening trade environment, slower Eurozone growth and the impact of coronavirus present the key risks to the outlook. FocusEconomics panelists project GDP growth of 1.1% in 2020, which is unchanged from last month’s forecast, and again 1.1% in 2021.

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Finland Facts

Value Change Date
Bond Yield0.033.70 %Dec 30
Exchange Rate8.78-0.38 %Jan 01

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Finland Economic News

  • Finland: Economy ends 2019 in contractionary territory

    February 28, 2020

    bet360备用网址In the final quarter of 2019, the economy shrank 0.7% in seasonally- and calendar-adjusted terms from the previous quarter.

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  • Finland: Inflation inches higher in January

    February 19, 2020

    Consumer prices shrank 0.3% in January compared with the previous month, reversing December’s 0.1% uptick.

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

    February 14, 2020

    bet360备用网址Economic activity grew a working-day adjusted 0.5% in December from the same month a year earlier, down from November’s revised 1.6% reading (previously reported: +2.3% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release. The deceleration in December, which marked the slowest rate of expansion since January 2019, came on the back of a contraction in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which had posted mild growth in the previous month.

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  • Finland: Current account rebounds to surplus in December

    February 13, 2020

    bet360备用网址The current account swung to a surplus of EUR 0.8 billion in December contrasting the revised EUR 0.1 billion deficit in November (previously reported: EUR 0.3 billion surplus) and the EUR 0.2 billion deficit recorded in December 2018. In the 12 months leading up to December, the current account balance clocked a deficit of EUR 0.3 billion, marking an improvement from the EUR 1.2 billion shortfall in November and the best result since September 2011.

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  • Finland: Economic activity growth accelerates in November

    January 15, 2020

    Economic activity grew a working-day adjusted 2.3% in November from the same month a year earlier, up from October’s revised 1.9% reading (previously reported: +1.5% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release. The uptick in November came on the back of a rebound in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which had slumped in the previous month.

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