Sticky recovery in Finland’s economy : Interim forecast : September 2024

Abstract

Finland’s economy is making a sluggish recovery from recession. According to the Bank of Finland’s September 2024 interim forecast, Finland’s gross domestic product (GDP) for the full year 2024 will again show a contraction. The economy will recover slowly, and in 2025 GDP will grow by 1.1%. In 2026, growth will pick up to 1.8%. Inflation of just over 1% is forecast for 2024, from which it will rise nearer to 2% in the immediate years ahead. The labour market has suffered from the weak economy, but in 2025 the unemployment rate will start to decline. The risks surrounding the forecast are, in the short term, predominantly on the downside.