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Stanna kvar på sidan | Gå till en relaterad sida på svenskaGet the latest insights on the economy, industries and emerging trends that can help your business tackle the challenges it faces in today’s market. We share the learnings and perspectives of leading experts and innovators in the Nordics, both from Nordea and beyond.
Economic Outlook
The global economy is subject to great uncertainty owing to President Trump’s tariff war with the rest of the world. We do not expect a global recession in our baseline scenario, and we believe that Europe, and in particular the Nordic region, is well positioned to weather the storm.
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Economic Outlook
Since the start of 2025, the performance of the SEK has been historically strong. The trade-weighted exchange rate has appreciated by 7% – the most since 1993.
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Economic Outlook
The global landscape has been jolted, partly due to the global trade war. This also affects Sweden, causing households and businesses to hesitate. However, the impact on growth is expected to be limited. There are conditions in place that will help to continue last year’s gradual recovery of the Swedish economy. Inflation will likely decline next year, but a stronger economic climate should reduce the Riksbank’s need to ease monetary policy.
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Economic Outlook
As a small, open economy Denmark is traditionally highly sensitive to global developments. So the trade war is definitely bad news for economic activity in Denmark. However, it comes at a time when the Danish economy is exceptionally well prepared to handle the wave of uncertainty flowing across its borders.
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Economic Outlook
Households have been tested in recent years with higher inflation, interest rates and unemployment, as well as a stream of negative news from around the globe. However, now their fortunes have improved in many respects, as inflation and interest rates have fallen.
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Economic Outlook
President Trump’s policy actions have caused a lot of volatility in the financial markets and the economic outlook since our previous forecast. Uncertainty is high, and, given Trump’s tendency to cause chaos, this is expected to continue.
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Economic Outlook
The cautious growth seen in the Finnish economy is at risk of hitting a tariff wall. Lower inflation and interest rates are boosting purchasing power, but increased uncertainty threatens to put private consumption and investment on hold for a little longer. Housing market activity has increased, but prices are not rising yet. The oversupply in the rental market is still discouraging new construction.
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Economic Outlook
Economic growth in Norway is picking up, driven by increased consumer spending and housing construction. The tariff war and the global situation will, on balance, have little impact on the Norwegian economy.
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Economic Outlook
Housing investment has declined sharply in recent years, which continued towards end-2024, according to Statistics Norway. However, other indicators suggest housing construction has picked up. We question whether the official figures accurately reflect recent developments. Going forward, we expect increased housing investment will help boost economic growth in Norway.
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Sector insights
Nordic real estate faces challenges and opportunities in transforming existing buildings into greener assets. Ebba Ramel and Mons Lunde, part of the ESG Sector Analysis Team at Nordea, outline how developing credible transition plans is not only reducing buildings’ environmental impact but also making them more attractive for investors and banks.
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Sustainability
Climate change has dominated corporate sustainability efforts for years. Now biodiversity is rapidly climbing the agenda. Discover how companies and financial institutions are navigating this complex new terrain.
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Economy
Donald Trump started his trade war against the rest of the world at a press conference in the White House Rose Garden. The vision of bringing the car industry back to the US will one day go down in history as a nostalgic mirage.
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