“This affects the Nordic countries and is the main reason we have seen the downward adjustments of growth outlooks,” he added. Meanwhile the United States, Germany and Sweden will see downturns of around 6-7 per cent. Sweden has resisted that to some extent, but there are signs that it is also slowing down here,” Holmgren said. OSLO/STOCKHOLM/COPENHAGEN (Reuters) - The Nordic economies of Sweden, Denmark and Norway are cooling off after years of expansion as global trade tensions mix with domestic factors to stifle investment, a Reuters poll found. In Norway, growth is likely to drop from 2.3% in 2019 to 1.8% next year as a boom in oil industry investment in recent years is forecast to gradually fade. All Rights Reserved. Denmark is expected to see a decrease from 1.9% growth in 2019 to 1.5% next year. But on the bright side, China and other parts of Asia are expected to see annual growth close to trend (6-8%), even while being affected by the weakening of the US and European economies, SEB says.The bank says the future of the euro looks grim as officials will have to decide between increasing supranational authority or scrapping the currency altogether. GDP growth of most Nordic and Baltic countries is expected to outpace the OECD average of 1 … According to SEB, GDP growth will be between 4% and 5% in 2012 and 2013 in Estonia, Latvia and Lithuania.Meanwhile, across the globe, the risk of recession is at 30% and unemployment (especially among young people) is predicted to get stuck at high levels in many countries. “And then we have an international process with the industry and global growth slowing down. With its solid public finances, oil income, capital spending and labor market, the group expects to see GDP growth around 2.5% next year as well as in 2013.SEB expects to see continued gradual recovery over the next two years for Baltic countries after all three saw strong growth in the first half of the year. “That usually spills over to domestic demand. Differences in full-year 2020 GDP growth between countries will largely depend on how severely they are affected by COVID-19 and what lockdown strategy they have chosen.
"The Nordic economies have weathered the Covid crisis comparatively well, and if our above-consensus forecasts for GDP growth this year prove accurate, the region will see some of the smallest falls in output in the whole of Europe.
The export-dependent region, home to companies like fashion retailer H&M (But the ongoing trade war between the United States and China over tariffs and trade, as well as lingering uncertainty over Britain’s pending exit from the European Union, are seen hurting investment and demand. “We keep seeing worse numbers, especially for the manufacturing industry globally, and that’s affected by the trade war, falling investment in China and a general recession after the long upturn we’ve had,” Danske Bank chief economist Las Olsen said.
The largest Nordic economy and the fastest-growing each year from 2013 to 2018, Swedish GDP is set to expand by 1.4% in 2019, down from 2.4% last year.
By None August 30, 2011 12:00 AM GMT.
Since 2000, 4.3 million people from other countries have migrated to the Region, with only 2.5 million moving in the opposite direction. And for a good reason; they see international specialisation within a global framework as a means of raising productivity and income.
Unlike the euro, the krona remains stable and has potential to increase to 8.70 krona per euro, meaning the krona is undervalued.Growth is suspected to be slow in Denmark for the time beingSEB says it will see a gradual increase with GDP growth of 1.7% next year and 2.3% in 2013.SEB predicts a drop in unemployment in Finland that will boost GDP growth around 2.5% annually in both 2012 and 2013.Norway has the best growth potential of the Nordic countries, according to SEB. The record decline, broadly in line with consensus, was significantly worse than even the fourth quarter of 2008 when the Nordic country recorded a fall of 3.8% during the global financial crisis. The largest Nordic economy and the fastest-growing each year from 2013 to 2018, Swedish GDP is set to expand by 1.4% in 2019, down from 2.4% last year. Consumers (get) worried and investments will not increase as much or may even fall,” he said.
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