Economic Snapshot for the Nordic Economies
March 29, 2017
Denmark: The economy is expected to accelerate moderately this year, mainly thanks to an improved performance in the external sector, along with increasing global trade. However, potential protectionist policies from several of Denmark’s trade partners form a downside risk. Panelists expect GDP to expand 1.5% in 2017, which is unchanged from last month’s estimate. In 2018, FocusEconomics panelists see growth at 1.7%.
Finland: The country’s economic recovery risks being ephemeral, as GDP growth is expected to slow this year. The agreed wage freeze, set to take effect this year, is expected to squeeze private consumption, while continued austerity will keep a lid on government consumption growth. FocusEconomics panelists expect GDP to grow 1.2% in 2017, which is unchanged from last month’s estimate. In 2018, analysts expect GDP to expand 1.3%.
Norway: Despite fiscal stimulus weakening slightly, the economy is expected to moderately gain traction thanks to growing global trade and an improved outlook for the oil sector. Total GDP is expected to expand 1.4% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, our panel sees the total economy growing 1.7%. Mainland GDP, which excludes oil drilling activities, is expected to expand 1.6% in 2017, which is unchanged from last month’s estimate. The panel expects Mainland GDP to increase 2.0% in 2018.
Sweden: A dynamic external sector, growing residential construction and healthy government consumption should keep the Swedish economy on a steady growth path this year. However, rising protectionism and disruptions to trade flows could hurt the country’s outlook. FocusEconomics panelists see GDP rising 2.4% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, they see growth decelerating to 2.2%.
Iceland: Economic growth should remain robust this year, though if overheating risks materialize they could quickly derail the country’s stellar economic performance. Our panelists expect GDP to expand 4.4% in 2017, which is unchanged from last month’s projection, and 2.7% in 2018.
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Nordic Economies Economic News
July 20, 2017
The consumer confidence index released by Denmark Statistics came in at 10.5 points in July, which is up significantly from the previous month’s 7.1 points and the highest reading since May 2015. The improvement was sufficiently broad-based as sentiment regarding nearly all sub-indices improved compared to June.
July 13, 2017
In June, consumer prices rose 0.1%, which matched the result of the previous month.
July 10, 2017
Consumer prices in June rose 0.4%, up from May’s 0.2%.
July 10, 2017
In May, industrial production dropped 0.7% from the previous month in seasonally adjusted terms, contrasting April’s revised 0.6% increase (previously reported: +0.7% month-on-month).
July 10, 2017
In June, consumer prices declined 0.1% compared to the previous month for the second consecutive month, the lowest reading in seven months.