Strong outlook for major sectors of the Finnish economy

Finland’s industry, construction sector and business services are expected to grow by about 6% in 2010 and 2011.

Finland’s processing industries and services for the export sector are recovering fast from the effects of the recession, according to the latest sector reports from the Labour Institute for Economic Research. The institute forecasts almost 6% growth for Finland’s industrial sector, construction sector and business services this year. Next year’s growth forecasts for these sectors are 6.5% and for 2012 about 4.5%.

The fastest growing business sectors are machine and equipment manufacturing, electronics and electrical product manufacturing, and data processing services. More moderate growth is predicted for paper product manufacturing, vehicle production, and the transport and storage sectors.

The institute expects Finland’s GDP to grow by 3.5% this year, followed by 3.7% in 2011.

Source: YLE