Economic Outlook

2026-09-02

Economic Outlook

Productivity turns a corner in Finland

Finland’s long period of weak productivity growth finally appears to be easing. Part of the turnaround reflects a better cyclical backdrop, but the drivers of longer-term productivity growth have also strengthened.

2026-09-02

Press releases

Nordea Economic Outlook: Resilience in motion

The global economy is demonstrating remarkable resilience in the face of geopolitical conflict, elevated energy prices and trade tensions. Meanwhile, tighter monetary policy from both the ECB and the Fed continues to weigh on financial markets, driving long-term yields in many countries to their highest levels in 15 years. The US dollar is depreciating, while the Nordic economies continue to outperform.

rear-view-of-businessman-riding-bicycle-on-bridge-in-city

2026-09-02

Economic Outlook

The recession is behind us in Sweden

Growth has picked up pace and economic conditions have normalised. The labour market is following suit, and with continued stable growth, resource utilisation will run slightly above normal next year.

National Bank of Denmark - Copenhagen, Denmark

2026-09-02

Economic Outlook

A symmetric band around the central parity in Denmark

Previously, the Nationalbank was most inclined to keep the krone below the central parity. In recent years, however, it has allowed a greater weakening of the krone than before.

Kruunuvuorensilta bridge at sunset, the longest bridge in Finland, Helsinki

2026-09-02

Economic Outlook

Finland economic outlook: Growth spiral

The Finnish economy has grown broadly in the first half of the year. Growth has been seen in private consumption, investment and exports alike. We expect growth to continue despite higher fuel prices and interest rates caused by the Middle East crisis. The recovery is expected to pass through to the labour and housing markets with a lag.

2026-09-02

Economic Outlook

Danish economy sees widespread gains

Despite higher energy prices and geopolitical uncertainty, the Danish economy continues to grow at a solid pace. The pharmaceutical industry remains the key driver of growth, but momentum is now also broadening to other parts of the economy.

2026-09-02

Economic Outlook

Chief economist: Nordic economies continue to show strength

The global economy is demonstrating remarkable resilience in the face of geopolitical conflict, elevated energy prices and trade tensions. The US dollar is depreciating, while the Nordic economies continue to outperform.

2026-09-02

Economic Outlook

Swedish economy: Better than normal

The Swedish economy has normalised. Resource utilisation is currently at the historical average and should continue to rise over the coming year. Growth is being driven by both stronger exports and firmer domestic demand.

businesswoman-and-man-reading-file-in-office-corridor

2026-09-02

Economic Outlook

AI downturn would weaken the dollar

US technology stocks have delivered very strong returns in recent years, both in absolute terms and relative to other markets. This has contributed to a strong dollar. However, the path to profitability for AI-related companies remains unclear. A sharp decline in the US equity market could lead to a significantly weaker dollar.

Two hikers passing through a brook on wooden bridge

2026-09-02

Economic Outlook

Norway Economic Outlook: Not there yet

Underlying inflation is likely to pick up again after its summer decline and remain around 3% through year-end. Inflation is therefore still where it was two years ago, while unemployment remains low.

2026-09-02

Economic Outlook