The Finnish gross domestic product grew by 0.7 percent on quarter in the three months to December of 2018, compared to a 0.4 percent expansion in the previous period and lower than a preliminary estimate of 0.9 percent growth, final figure showed. Growth was driven by household consumption (1.0 pct vs -0.1 pct in Q3) while fixed investment expanded 1.9 percent, after a 0.9 percent drop in the previous quarter. Meantime, Net external demand contributed negatively to GDP growth, as exports rose 3.3 percent (vs -1.4 pct in Q3) while imports went up 4.1 percent (vs 0.7 pct). On the other hand, government spending contracted (-0.9 pct vs 0.2 pct in Q3). On a yearly basis, the economy advanced by 2.2 percent, following a downwardly revised 2.1 percent growth in the third quarter and below a preliminary reading of 2.4 percent. It was the weakest growth rate since the third quarter 2017. GDP Growth Rate in Finland averaged 0.53 percent from 1975 until 2018, reaching an all time high of 5 percent in the third quarter of 1980 and a record low of -6.80 percent in the first quarter of 2009.
GDP Growth Rate in Finland is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Finland to stand at 0.40 in 12 months time. In the long-term, the Finland GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.