FINNISH FINANCIAL REPORT
Table of Contents
1 Describing Finnish economy using key economic indicators 1
2 Finnish economy for the moment 2
3 Factors that are/were hindering/supporting economic growth 3
3.1 Positive factors affecting Finnish economy 3
3.2 Negative factors affecting Finnish economy 4
4 Business cycle for the moment 4
5 Comparing Finland to Euro Zone and US 5
6 Important indicators 5
7 Finnish economic future 7
7.1 Household assets in Finland now and in the future 7
7.2 Companies in industry and service sectors 7
7.2.1 Companies in industry sector 7
7.2.2 Companies in service sectors 8
7.3 Government finances 8
8 Bibliography 10
1 Describing Finnish economy using key economic indicators
According to the official website: Statistics Finland, the future is looking a bit brighter than what we have been experienced since the recession of 2009 thus far.
Some key statistical data has been given on the website, and the situation is as follows:
• Industrial output - As one the most important pillars of a country’s economy, we chose to mention it first in our statistics section: Industrial output of Finland has been decreasing in the last period, namely in March 2014, just a month ago, the industrial output has decreased by 5% YoY. In the chart you will find below, you can see all the main industrial output factors sorted by industry they belong to, which have all been decreasing except chemical industry which is the only sector that has been growing in the recent months.
• Unemployment rate – According to statistics, the unemployment rate has gone up since the last year, and is currently sitting at 9,5% in March 2014, as opposed to figure of around 9% in the same period last year.
Thi...
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...uarter of 2013. During 2013, the growth has been 8.6 billion €. All of these indicators sum up to a rela-tively positive outlook for future, and as the experts say, we can hope for the best.
8 Bibliography
Various websites providing relevant and up-to-date information on the topics contained in this report.
• The material provided during the course, and our Moodle website
• http://www.bbvaresearch.com/KETD/ketd/ing/nav/tematicas/analisis_macroeconomico/historico/flash/coyuntura/index.jsp
• http://www.stat.fi/til/khi/2014/03/khi_2014_03_2014-04-14_tie_001_en.html
• http://www.stat.fi/til/tyti/2014/03/tyti_2014_03_2014-04-24_tie_001_en.html
• http://economics.about.com/od/unemployment-category/a/Measuring-Unemployment.htm
• http://www.blancco.com/en/company-info/press-releases/2013/strongest-company-in-finland-award/
• http://www.tilastokeskus.fi/
CQ Researcher published the article. They are an authority with where they stand in the world; meaning they are very informational and helpful. It is scholarly reviewed. By comparing it to my other sources, this source has more information and helps a lot more than the rest of my sources. The article is objective and informational. The goal of this article is to inform people on the statistics and how we can help lower the numbers.
Finland and the USA are very similar, but we are also very different. One of the laws in Finland is that people can drink by the age of 18. In the USA, we are not allowed to drink until we are 21. One of the things we have the same are the military branches that we have three`. Same as Finland that they also have three branches of the military. They use different money as us they have Euro and we have the American dollar.
Note: This is accessible when one has internet access. This article was accessed through a database. The database site was very easy to use and it is reliable.
The measure of growth is flawed, how countries see their growth is based on the consumption of their people. Many countries use the GDP (Gross Domestic Product) as an indicator for growth, as defined in It’s All Connected, “(GDP) is a calculation of the total monetary value of goods and services produced annually in a country” (Wheeler 11). The...
Economic indicators are Governmental statistics, released on a regular basis, which indicate the growth and health of a country. Economic indicators often affect and influence the value of a country's currency. The Trade Deficit, the Gross National Product (GNP), Industrial Production, the Unemployment Rate, and Business Inventories are examples of economic indicators. We will be dealing with four specific indicators: interest rate, inflation, unemployment, and employment growth as well as Real Gross Domestic Product (GDP). Real GDP is so called because the affects of inflation and depreciation are accounted for in the figures.
State of the Economy is apart from the geopolitical and other uncertainties; the forces affecting demand this year appear, on balance, conducive to a moderate strengthening of the economic expansion.
“Student Financial Aid in Finland.” Ministry of Education and Culture. Ministry of Education and Culture, n.d. Web. 2 Oct. 2013. .
Unemployment of 7.3% has been a part of having illegal immigrants taking jobs of Americans. Many construction jobs and hardworking jobs are being taken from Americans because many immigrants are willing to do more work for less pay and this can truly affect the unemployment rate. Multiple occasions, in which, a citizen of the United States cannot find any jobs, having to start a new career, possibly having to move to where one can find a fertile econom...
The unemployment rate in Canada has been declining in the past 5 years, in January 2010 its unemployment rate was about 8.3% whereas in January 2015 was 6.6%. However Canada’s unemployment rate has increased to 7% in the third quarter of 2015 http://www.tradingeconomics.com/canada/unemployment-rate
be the increase in jobs. Creation of new jobs will take place in the manufacturing
used to exist a long time ago, and does not exist anymore. The data collected, shown in the article, is
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
research on the matter. During my research I found it particularly difficult to locate information
In order for any country to survive in comparison to another developed country they must be able to grow and sustain a healthy and flourishing economy. This paper is designed to give a detailed insight of economic growth and the sectors that influence economic growth. Economic growth in a country is essential to the reduction of poverty, without such reduction; poverty would continue to increase therefore economic growth is inevitable. Through economic growth, it is also an aid in the reduction of the unemployment rate and it also helps to reduce the budget deficit of the government. Economic growth can also encourage better living standards for all it is citizens because with economic growth there are improvements in the public sectors, educational and healthcare facilities. Through economic growth social spending can also be increased without an increase of taxes.
The current state of the economy in the United States has been slow in recent months. While the economy is not currently in a recession, we may eventually fall victim to the first recession we’ve had in nearly ten years. The economy in general is showing growth, just not much. It will be difficult to predict what exactly will happen to the US economy in the future. Many economists do not agree on what will become of the economy. Some feel that we will begin a recession over the next year, and some feel that there is significant policy implementation that will allow us to dodge a recession and regain our economic strength. There are many factors that make up the US economy. The means in which I will discuss the overall growth and current status of the economy is by analyzing the Gross Domestic Product, and discuss the factors that cause it to rise and fall.