Follow the economy across the Nordic countries and economic changes worldwide.
Nordea Group Chief Economist: Risk of recession in the Euro area is real
Inflation has reached the highest level since the early 1980s, and central banks seem determined to fight it through aggressive monetary policy. This is also the case in the Nordic countries where housing markets face a sharp slowdown.
Chief economist: Norway's housing market rally is over
In the past 20 years, housing prices have more than tripled in Norway. With zero interest rates during the pandemic, the policy rate and thus rates on housing loans bottomed out. We will not see this interest-rate effect again.
Competition for labour and high inflation are pushing up wages in Norway, while the war in Ukraine intensifies the inflationary pressure. With an economy under pressure and rising price and wage growth, Norges Bank will continue its quarterly rate hikes until end-2023.
Russia’s attack against Ukraine will slow down economic growth in Finland this year. A strong labour market, the lifting of restrictions and the savings accumulated by households during the Covid pandemic will underpin growth in the service sector.
The tight labour market, record-high demand for workers and recent inflation spike suggest that wage growth will be higher going forward. We revise up our wage forecast, and the Riksbank faces new challenges.
How Finland's economy is maintaining its competitiveness
Export prices in Finland have kept up with rapidly rising import prices, keeping the country’s terms of trade unchanged. Zero-emission electricity generation is becoming a source of competitive advantage in manufacturing, which supports investment growth.
Danish public finances: A break with budget discipline?
The Danish Budget Act is about to be amended at the same time as the green transition and Danish defence spending put an increasing strain on public finances. Is this the beginning of a regime shift in public budget management?