Economic Survey, Summer 2017

Finnish GDP is forecast to grow by 2.4% in 2017, 1.6% in 2018 and 1.5% in 2019. The global economic outlook has improved, with global GDP adjusted for purchasing power growing by 3.4% in 2017, 3.6% in 2018 and 3.7% in 2019.

Growth clearly exceeded forecasts in the first quarter of 2017. Economic growth is plainly accelerating and increasingly diversified.

Higher employment rates are boosting growth in private consumption. Growth in private investment will fall over the next few years as the increase in construction investment gradually tails off. The emphasis in private investment will shift to investing in production.

Export growth will gather pace over the forecast horizon due to improved economic prospects in export markets. A broad and rapid economic recovery brought an upswing in employment during the spring of 2017. Even though economic growth will strengthen general government finances over the next few years, the favourable cycle will not resolve its structural problems.

Languages: