Finland | Omicron wave is expected to have a mild impact on the economy

Our forecast for Finland’s GDP growth is 2.3% this year and 1.5% in 2023, both unchanged from last month. Despite a recent surge in Covid cases related to the spread of the Omicron variant, formal restrictions remain light and pressure on hospitals is limited.

What you will learn:

After a relatively weak Q4 2021 and Q1 2022, we expect the economy to accelerate, but the evolution of the pandemic remains the key risk in the coming months.
Consumer confidence fell further in December but remains above the level of a year ago.
The employment rate has already recovered to its pre-pandemic level and the unemployment rate was down to 6.8% in November, while companies in construction and industry report large labour shortages.

Topics: Forecasts, Europe, Consumption, Inflation, Labour markets, Coronavirus, GDP, Unemployment, Consumer, Employment, Recovery, Coronavirus vaccine, Nordic, Finland, Country Economic Forecast, Covid19, Omicron