Economic Bulletin 1/2009

• Economic Bulletin 1/2009
  24.03.2009  |  pdf, 115 Kt

Summary

• The recession in the global economy is becoming deeper, and especially world trade and industrial production are plummeting. Recovery is expected to start next year, but there is still a significant risk that the downturn could become a global depression.
• Declining foreign trade has brought Finland's industrial production into a sharp fall. GDP will decrease much more in 2009 than previously expected, by an estimated 5%. Next year production is projected to drop by 1½%.
• Over one hundred thousand jobs will be lost this year. The number of unemployed will increase by an average of 70,000 people and the unemployment rate will rise to 9%. Employment will continue to deteriorate next year.
• Central government finances will slide into a deficit of EUR 6 billion this year, and government debt will grow even more. Central government will remain in hefty deficit for a number of years to come.

Language versions

• Suhdannekatsaus 1/2009
  24.03.2009
• Konjunkturöversikt 1/2009
  24.03.2009

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