Study finds Finland’s economic forecasts consistently inaccurate

Finland’s main economic forecasting institutions have repeatedly missed actual GDP growth by wide margins, according to a new study by the Kalevi Sorsa Foundation, which argues that fiscal policy should rely less heavily on forecasts and more on confirmed economic data. The report examined forecasts from the Ministry of Finance, Bank of Finland, Etla, Pellervo Economic Research, Labore, Nordea and OP Pohjola. It found that their spring forecasts for the following year’s economic growth diff...