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Researchers: Uncertainty curbing economic growth

Finland's Labour Institute for Economic Research has trimmed its 2019 growth forecast for the nation's economy.

Ihmisiä kauppakeskuksessa.
Private consumption is supporting economic growth. Image: Yle

The Labour Institute for Economic Research (PT) is now forecasting 1.4 percent growth in the Finnish economy this year, down from an estimate of 2.3 percent published last autumn.

PT attributes the slowdown in economic expansion largely to uncertainty in the global economy.

In its evaluation, the Institute notes the growing possibility of an out-of-control Brexit and the shadow cast over international economic prospects by U.S. trade policy.

If the worst case scenario does not play out, PT researchers expect exports and private consumption to pick up and boost growth just slightly, to 1.5 percent, in 2020.

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