ECB’s expanded asset purchase programme has supported growth in Finland
The expanded asset purchase programme has also had a significant effect on price developments: in its absence, inflation in 2016 would have been much slower.
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Alternative scenario: Weaker global economic activity one of the key risks
It will become harder to balance the public finances in the future if the global economic headwinds gather pace.
National Accounts for the third quarter of 2016
The latest quarterly national accounts give a better picture of GDP developments in 2016 than the previously published statistical data.
Assessment of public finances in December 2016
A halt in further growth of the debt ratio looks possible in the medium term. However, the sustainability of the public finances remains unresolved.
Financial stability assessment: Finland alerted to household debt
The European Systemic Risk Board (ESRB) has issued a warning to Finland concerning the vulnerabilities related to household indebtedness and lending for house purchase. There are, however, no threats to the stability of the Finnish financial system in the short term.
Forecast assumptions: Political changes increase uncertainty surrounding global economic outlook
The global economy is forecast to grow a good 3% per annum in 2017–2019, slightly faster than in 2016.
Forecast: Finland has left recession behind
The Finnish economy has returned to growth, driven by private consumption and investment. GDP will grow 1.3% in 2017 and 1.2% in 2018 and 2019.
Winners and losers in industrial profitability
Industrial profitability has been linked to fluctuations in export demand, but over the long term it has also followed relative wage developments. The chemical industry has emerged as the most profitable. Most sectors within the metal industry have shown weakened profitability.
Long-term growth from a productivity and employment perspective
Global trends in international trade and technological advances will shape output and employment structures. Accelerating automation raises concerns over a long-term reduction in work, falling wages and increasing inequality.