Bank of Finland articles on the economy
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The method by which agreement is reached on wages in the Member States participating in EMU has a particular significance for employment and growth. Optimal wage formation defines the development of competitiveness.
Finland’s cost-competitiveness has improved in recent years. From the perspective of employment there would still be room for further improvement.
The pace of labour productivity growth in Finland has faded. This is attributable to lacklustre productivity development in manufacturing as well as the increasing dominance of services in the economy.
Finland’s economic growth will be slower during the next three years. Growth has also slowed in the euro area and elsewhere around the world. However, there are still possibilities for growth in the Finnish economy.
Abundant construction in the Helsinki metropolitan area has put a brake on apartment prices.
Even if the employment rate were to remain unchanged, the number of employed would decline by 15,000 over the years 2019–2021.
Short-lived volatility in consumer prices make it harder to monitor price pressures within the economy. Measures of core inflation describe price developments that are not driven by temporary factors.
If economic growth in the immediate years ahead does not exceed around 1.5%, achievement of the 75% employment target is unlikely.
Economist robot currently forecasts a marked slowdown in growth. The forecast has weakened substantially during the spring with the release of new statistical data.
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