Economy & Trade

The volume index for industrial output and the trend indicator of output for June  2010 suggest that the Finnish economy has picked up during the summer.

If the recent pace of growth were to continue until the end of the year, Finland’s GDP would grow by as much as 4-5% and industrial output by 14% year on year. Construction volumes and revenues have also begun to grow again, and demand for construction products has significantly picked up.

According to preliminary information, Finland’s GDP contracted by 8.0% in 2009. In March the Research Institute of the Finnish Economy (ETLA) forecasted growth of 1.5% for the current year and 4% for next year.

ETLA now anticipates that its forecast to be published in September will be significantly more positive for the current year than its March forecast. In its recent report, the Ministry of Finance raised its GDP forecast for this year to 2 percent and to 3 percent for next year.

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