Follow the economy across the Nordic countries and economic changes worldwide.
Banking innovation
Key trends shaping the financial industry
The financial industry is changing fast. Economic uncertainty, digital innovation and stricter regulation combined with climate, demographic and cyber challenges redefine how institutions compete and create value. Let us walk you through eight key trends.
Oil prices have surged from USD 60 to nearly USD 120 per barrel amid Middle East tensions, but the Nordic economies are expected to remain resilient. Our analysis shows the economic impact should be manageable if prices stabilise around current forward market expectations.
The Nordic region stands out for its economic resilience, innovation capacity and stable financial system – factors that continue to attract capital and support long term-growth.
Arctic security and defense spending: Economic implications
NATO’s new defense spending target will more than double European military budgets by 2035, with significant economic implications, clients heard at a recent Nordea event on Arctic security policy.
Tariff uncertainty persists despite US Supreme Court ruling
Tariff uncertainty has increased again after the Supreme Court found a big part of the US tariffs illegal. New tariffs quickly followed, but it would be premature to expect recent developments to materially alter the economic and market outlook.
The Swedish employment rate is among the highest in Europe, yet unemployment is close to 9%, according to the Labour Force Survey. There are strong reasons to take a more nuanced view of unemployment and shift the focus to register-based measures.
Despite trade tensions and geopolitical turmoil, Danish exports have surged in recent years. Much of this growth stems from exports of goods produced outside Denmark’s borders.
Households have regained confidence, and conditions are in place for consumption to substantially increase. The export industry has weathered several global challenges, and the outlook is healthy. The unemployment rate is set to fall to 5%, according to the new BAS measure.
The global economic outlook has continued to be rather stable, despite geopolitical uncertainty. However, the level of uncertainty continues to be high, and the confidence among corporates and households is repeatedly tested.
In a world of political uncertainty, the Danish economy is well positioned to handle future challenges. The foundation lies in the labour market, where record-high employment helps ensure robust public finances.
Chief economist: Strong growth in the Nordic countries over the coming years
The global economy was characterised by a high degree of resilience in a tumultuous 2025, with the prospect of renewed growth in 2026. However, there are significant risks are associated with the unpredictable geopolitical situation.