Economic Outlook
Swedish household debt relative to income is falling for the first time since the mid-1990s – contributing to resilience in the long term, but raising questions about household spending and housing market trends in the near term.
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Economic Outlook
The trend in Denmark is opposite to that of many other countries where large public deficits have taken hold. The solid finances help to ensure stable, low interest rates in Denmark.
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Economic Outlook
In the next couple of years, activity in the Norwegian economy will be less affected by petroleum price changes than previously. But large energy shocks will impact price growth and thus Norges Bank’s interest rate decisions.
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Economic Outlook
The prospects for the global economy are still relatively good despite significant monetary policy tightening. Inflation has fallen sharply, and central banks will likely start cutting rates this year. This increases the chances of a soft landing, but uncertainty is high.
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Economic Outlook
Slightly lower interest rates, continued high wage growth and low unemployment will gradually improve households’ purchasing power. We therefore foresee better times ahead for both the Norwegian economy and the housing market.
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Economic Outlook
Sweden will see weak economic growth in the near term. Inflation will likely normalise and interest rates go down this year, which will provide support and lower the risks of a deep recession. However, the interest rate level will stay higher than before the pandemic.
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Economic Outlook
Central banks will be reversing their monetary policies and start cutting rates in the coming months. The weak economic outlook and resultant declining price pressure trend are the biggest reasons for the turnaround.
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Economic Outlook
High interest rates have sent the Finnish economy into a recession. The outlook for the first half of the year is unfavourable for private consumption, construction and exports alike.
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Economic Outlook
Finland is in desperate need of investments in education, research and development in order to boost productivity growth, which has stalled for the past 15 years, to being on par with peer countries.
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Economic Outlook
Inflation has fallen sharply, and central banks will likely start cutting rates this year. This increases the chances of a soft landing, but uncertainty is high, says Helge Pedersen, Nordea Group Chief Economist.
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Economic Outlook
Join us for the release of the Nordea Economic Outlook on 24 January. Register for the webinar with our chief economist for an inside look at Nordea’s latest forecasts.
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Economic Outlook
Norges Bank has hiked its policy rate faster and warned of a higher interest rate peak than previ-ously. We think the policy rate will peak in September at 4.25%, but we are not sure it will stop there. The interest rate market is now discounting rate cuts next year. In our view, interest rates will not start to gradually move lower until 2025.
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