Finland: economy remains in the European fast lane

In Finland the real gross domestic product expanded in 2003 by 1.9%, with considerable support from private consumption. On the labour market the situation remained largely unchanged, with employment falling by 0.3 % over 2002 and an unemployment rate of 9.0%. Inflation was 1.3% for the year. In 2004 real GDP will increase by approximately 3%. The unemployment rate will decrease to just below 9%. Consumer prices will be about ½% above the previous-year level. In 2005 real GDP will increase by 3¼%. The unemployment rate will decrease to 8½% and inflation will stand at 1¾%