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An extensive materialisation of risks on the Swedish housing market could also have notable effects in the other Nordic countries.

Low risk premia and high valuations have increased global securities markets’ exposure to price corrections and abrupt shifts in risk premia.

Following the turn in the economic cycle, growth in labour costs have slowed, and the rise in the output price has been most clearly linked to stronger corporate profitability.

According to the structural unemployment indicator based on labour market flows, unemployment in Finland is at slightly over 8%.

Finland’s GDP grew 1.2% quarter-on-quarter in the first quarter of 2018 and 3.1% year-on-year. The Finnish economy has now grown for ten consecutive quarters.

Global demand, improved competitiveness and favourable financing conditions will support growth. GDP growth forecasts for 2018–2020 stand at 2,9%, 2,2%, and 1,7%. Inflation will remain close to 1% over the years 2018–2019 before gathering pace and reaching 1.5% in 2020.

Unprofitable firms occupy economic resources and slow down productivity growth.

The global economy is still growing strongly, but there are already certain signs that the growth rate is levelling off. The deceleration in euro area growth has long been expected in the forecasts.