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Finland: economic recovery after sharp downturn

Author

Listed:
  • Oscar-Erich Kuntze

Abstract

In 2001 the Finnish economy experienced a rapid and hard landing. Real GDP grew by only ¾%. Decisive for the poor growth was the marked recession in exports especially as a result of the crisis in the IT sector. In 2002, however, the signals for the Finnish economy also point to an upswing. Real GDP will expand by a good 1½%. The unemployment rate will climb to an average annual 9¾%, and consumer prices will increase by a good 1½%. In 2003 the economy should grow by around 3%. Employment will increase by ½%, and prices will be 1¾% above the level of 2002.

Suggested Citation

  • Oscar-Erich Kuntze, 2002. "Finland: economic recovery after sharp downturn," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 55(05), pages 47-53, March.
    • Handle: RePEc:ces:ifosdt:v:55:y:2002:i:05:p:47-53
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    More about this item

    JEL classification:

    • 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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