Iceland Economic Outlook
September 25, 2018The economy performed well in the second quarter, according to data released by Statistics Iceland in September. Annual economic growth accelerated from the first quarter to reach a one-and-a-half-year high. The expansion was driven by strong private consumption, which benefited from low unemployment and solid wage growth. Moreover, fixed investment growth surged, particularly in terms of residential construction. On the other hand, government consumption increased at a weak pace, while the external sector had a lackluster performance. According to the same data, economic growth in 2017 was revised upwards from 3.6% to 4.0%.
Iceland Economic GrowthThe economy is seen expanding at a slower rate this year and next, as the tourism sector loses steam and private consumption growth moderates. Furthermore, a strong króna could hinder the competitiveness of the external sector. Our panelists expect GDP to rise 3.3% in 2018 and 3.0% in 2019, which is unchanged from last month’s forecast.
Iceland Economy Data
5 years of Iceland economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||6.05||-0.99 %||Oct 16|
|Exchange Rate||118.0||-0.52 %||Oct 16|
|Stock Market||1,233||-0.32 %||Oct 16|
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