Accessible summary : Finnish economy growing fast, but pace will slow in near future

Abstract

The economy is continuing to recover from the steep downturn caused by the COVID-19 pandemic. The recovery is, however, being slowed by a worsening of the virus situation, shortfalls in raw materials and electronics components, and an increase in the general level of prices measured by the inflation rate. Economic growth will continue to be bolstered particularly by household spending on goods and services and investment by businesses. Once we have recovered from the recession, the pace of growth will slow, as the long-term outlook for the Finnish economy is overshadowed by the ageing population and the slow pace of labour productivity growth.