Economic Outlook
Global economic outlook: Receding risks
Some of the downside risks in the global economy have vanished since our spring forecast due to President Trump’s trade deals and the fiscal agreement in the US.
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Follow our expert insights about how the markets and inflation develop in the Nordics and globally.
Economy
Global economic update: Summer 2025 highlights
As the summer of 2025 draws to a close, Nordea analyst Joel Lundh provides a comprehensive overview of the global economic landscape. From financial markets to world events, this article summarizes the key developments that have shaped the international economy in recent months.
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Markets and investment
Nordea launches new Empower Europe Fund
Nordea Asset Management introduces a new fund for private and institutional investors who want to invest in Europe’s independent energy supply, industrial production and collective security.
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Economic Outlook
Global economic outlook: Known unknown
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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Sustainable banking
Understanding social impact investing
Social impact investing is when you as an investor choose your investments with the intention of generating measurable, beneficial social effects in addition to financial gains.
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Economy
Is China ready for a trade war?
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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Economy
Are US Treasuries no longer ‘safe haven’?
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
Tariff uncertainty poses growing downside risk to the economy
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
‘Mar-a-Lago Accord’ explained: A new era for the dollar?
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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Economy
Danish minister: Economy on firm footing amid global challenges
Denmark is navigating current global uncertainty from a position of economic strength, according to experts at Nordea’s recent Danish Economic and Government Debt Symposium. Can consumer confidence and household spending catch up with the country’s economic resilience?
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Economic Outlook
Trade policy will have multiple effects in Finland
The US has become the most important export market for Finland. This makes Finland quite sensitive to any trade barriers imposed by the US. In addition to direct tariffs, indirect effects such as counter-tariffs, foreign exchange rates and increased uncertainty will have an impact on Finland’s economy.
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Economic Outlook
Finnish economic outlook: Stunted growth
The Finnish economy has seen cautious growth, but the economic cycle remains weak. Consumers are still cautious, even though purchasing power has started to improve and interest rates have fallen.
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