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Finland

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  • Oscar-Erich Kuntze

Abstract

In 1999 the economy at first cooled off noticeably, after the strong upswing in the years 1994 to 1998. But in the second quarter, industrial production again increased rapidly, led by communications technology. Real GDP grew at a 3½ % pace, which was stronger than the western European average. The unemployment rate sank by 1.2 percentage points to 10.2%. (In 1994 it was still 18.4%). For 2000 a strong economic upswing is expected with even some indications of overheating. Real GDP should expand by about 2¾%. Employment will increase by about 2¾%, and the unemployment rate will fall to 8¾%. Consumer prices, which rose by 1.3% on average in 1999, will increase by 2¼%. In 2001, demand and production will increase rapidly, but will not match the pace of 2000. Real GDP should grow by 4¼%. The increase in employment will slow to 2%, mainly because of the growing lack of skilled labour. The unemployment rate will fall to 8%. Consumer prices should again increase by about 2¼%.

Suggested Citation

  • Oscar-Erich Kuntze, 2000. "Finland," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 53(08), pages 15-24, March.
    • Handle: RePEc:ces:ifosdt:v:53:y:2000:i:08:p:15-24
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    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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