OP Group lowered its forecast from Finland’s economic growth

OP Group will reduce its forecast from Finland’s economic growth to 1.7 %. In October, the bank estimates that the Finnish economy will increase by 2.0 per cent this year.

Next year, OP Group predicts 1.5 % economic growth for Finland. The bank’s estimate rose slightly since October, with Finland’s economic growth at that time by 1.3 per cent.

According to the OP Bank Group, slower growth and increased policy confidence in the European export markets will create a recovery of the fall forecast.

The OP Bank Group of Finland exports will increase by 3.5 per cent this year and 4.0 per cent next year. According to the Bank, private consumption this year will increase by 2.0 percent after last year’s zero growth.

“This year, real income continues to grow, and the accumulated savings will allow for an increase in revenue even more than interest rates, especially as interest rates have fallen,” OP Bank Group estimates in its business cycle review.

Investment According to the OP Bank Group, this year, 4.1 percent will increase after last year’s 5.5 % drop.

For this year’s inflation, OP Group estimates 1.7 percent.

According to OP Group, the Finnish economy may now reach better growth in favorable conditions.

“As trust recovers and export markets recover, the economy can be clearly stronger,” the bank estimates.

On the other hand, there are also concerns in the economy of the economy.

“Increasing the obstacles to exports, labor market barriers and the stinging of the industrial cycle can keep growth low,” OP Group estimates.