Follow the economy across the Nordic countries and economic changes worldwide.
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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Economic Outlook
Join us for the release of the Nordea Economic Outlook on 21 May. Register for the webinar with our chief economist for an inside look at Nordea’s latest forecasts.
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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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Economy
As part of its mid-term budget proposal for 2025, the Finnish government has decided on reductions of EUR 2 billion in earned income and corporate tax. About half of the tax cuts will be covered by increases in other taxes and spending cuts. Nordea Chief Analyst Juho Kostiainen takes a look at the reforms and the expected economic impact.
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Economy
China started the year 2025 with robust GDP growth. Nordea Chief Economist Tuuli Koivu also observed slightly better sentiment during her trip to the country in March. However, the intensified trade war between the US and China is going to hurt the growth and CNY outlook in the coming months.
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Insights
The trade war has been a rollercoaster for the markets – here’s a day-by-day account of the ride so far.
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Economy
During market turbulence, US government bonds tend to be a “safe haven.” But the past week showed something completely different. On 9 April, when Trump’s new tariffs were to take effect, investors sold off US government bonds. Nordea Senior Strategist Sara Midtgaard takes a closer look.
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Insights
Trump’s newest round of tariffs hit financial markets and added to downside risks to the economy. Plenty of uncertainties remain, and the USD sentiment has taken a beating. The ECB will likely cut again, while the Fed may find the outlook trickier, writes Nordea Chief Analyst Jan von Gerich.
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Markets and investment
There has been much focus on whether Trump could force the US trading partners into a so-called “Mar-a-Lago Accord” to weaken the dollar. Chief Strategist Lars Mouland reflects on what such a deal could entail.
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