Content type

Deeper Than Expected Recession Ahead In Finland

Country Risk / Finland / Wed 08 Mar, 2023

Key View

  • We forecast that the Finnish economy in 2023 will shrink by 0.5%, down from 0.2% before and a 2.0% expansion in 2022.
  • Our forecast envisions a technical recession in Q123 and sluggish growth throughout the rest of the year.
  • Risks to this year’s forecast and our projection for the economy to rebound by 1.1% in 2024 are tilted to
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Slowing Finnish Growth Buoyed By Domestic Demand

Country Risk / Finland / Wed 08 Jun, 2022

Key View

  • We at Fitch Solutions have revised down our real GDP growth forecast for Finland to 1.8% in 2022 and 1.6% in 2023, from 2.3% and 1.9% respectively.
  • Growth will remain driven by domestic demand as tight labour market conditions and strong housing construction bolster consumption and investment, though consumer spending will slow
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