Following the steep contraction caused by the financial crisis, there have been substantial differences in economic performance across the different countries in the euro area. Healthy economic structures appear to have facilitated a speedier recovery.

Investment growth has been bolstered by e.g. the quickening of domestic demand and construction activity as well as monetary policy. There has been a substantial increase in exports, for example to Germany and China.

International factors have a major impact on the outlook for the Finnish economy.

Shadow banking is a broad concept. A possible definition is that it comprises non-bank institutions which undertake bank-like activities. Another characteristic is that the sector is overall less regulated.

Digital technology has improved our well-being in ways that are difficult to measure in monetary terms. Not all the effects of digitalisation are fully reflected in GDP.

The political uncertainty in both the euro area and the United States has eased, providing a firm foundation for continued economic expansion.

So far, the project to build a single market for capital has advanced at a relatively good pace, but now there are some difficult issues ahead.

The euro area economy has now benefited from four years of unbroken growth, and this is expected to continue. The evolution of the global economy will be affected by the economic policy of the new US administration. A potential increase in protectionist actions may impair the expansion of the global economy and trade.