Bank of Finland upgrades growth forecast to 2.9% for 2018, 2.2% for 2019

The Bank of Finland has revised up its growth forecast for 2018 to 2.9 per cent, for 2019 to 2.2 per cent and for 2020 to 1.7 per cent as a consequence of favourable productivity developments, financing conditions and strong demand for exports. The figures represent an improvement of 0.3–0.6 percentage points from the previous forecast. Finnish exports are expected to continue their solid performance supported by the sustained, strong cyclical trend of the global economy and improved export competitiveness arising from the recent moderate wage increases in Finland, according to the Bank of Finland. High levels of household consumption and corporate investment, meanwhile, are expected to support the robust growth of domestic demand in 2018–2020, whereas higher employment, rising earnings and low inflation are to support the purchasing power of consumers. - Helsinki Times -



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