Research Briefing | Aug 16, 2021

Finland | GDP for 2020 has been revised down

Finland | GDP for 2020 has been revised down

Finland’s GDP for 2020 has been revised down, with a larger contraction in the first half of the year and a stronger rebound in the second half, while Q1 2021 GDP has been revised up from a mild contraction to flat growth. This affects this year’s average, although the near-term outlook is broadly unchanged with a strong rebound in Q2 and Q3. Our forecast for GDP growth this year is now 3.1%, up from 2.5% seen last month, before a slowdown to 2.1% in 2022.

What you will learn:

  • Our 2021 GDP growth forecast is raised to 3.1%, with 2.1% still seen in
    2022
  • We have kept our forecast for household consumption largely unchanged with a rebound of 2.5% q/q in Q2
  • Fixed investment was revised up for 2020, mainly due to government investment

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