Economic Snapshot for the Nordic Economies
October 6, 2020
The Nordic economy is projected to contract this year for the first time since the Global Financial Crisis due to the coronavirus pandemic, with oil-producing Norway set to also be affected by depressed energy prices. Nevertheless, healthy fiscal and monetary stimulus across the region should soften the downturn.
Nordic Economies Financial & Monetary Sector News
Consumer prices increased 0.3% in May compared to the same month last year, after remaining broadly unchanged in April. May’s reading was due to a gradual recovery in demand and oil prices. This year, inflation will likely average much lower than last year due to the economic slump.
Regional central banks have maintained ultra-loose monetary policies over the past month, and sustained measures to ensure ample liquidity in domestic financial markets. Overall, regional monetary policy is projected to loosen this year compared to last as central banks look to support economic activity.
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Nordic Economies Economic News
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Finland: Economic activity declines at steeper pace in August
October 15, 2020
Economic activity decreased 3.3% year-on-year in working-day adjusted terms in August, down from July’s 2.7% drop.
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Finland: Inflation ticks down in September
October 14, 2020
Consumer prices remained flat in September over the previous month, after the mild 0.02% increase recorded in August.
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Finland: Current account records surplus in August
October 13, 2020
The current account recorded a EUR 0.3 billion surplus in August, matching the surplus recorded in August last year, and swinging from the EUR 0.1 billion deficit recorded in the prior month.
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Sweden: Inflation falls to lowest level since May in September
October 13, 2020
Consumer prices with a fixed interest rate increased 0.07% over the previous month in September, swinging from the 0.15% fall recorded in August.
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Denmark: Inflation ticks up in September
October 12, 2020
Consumer prices edged down 0.1% in September over the previous month, up from the 0.4% fall recorded in August.
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