Economic Snapshot for the Nordic Economies
August 31, 2020
GDP forecast to expand in 2021
This year, the Nordic region is projected to grow at the fastest pace in over a decade. Domestic activity should drive the recovery as consumer and capital spending boost demand, while improving global trade levels will benefit the external sector. However, new variants of the Covid-19 virus and any reimposition of travelrelated restrictions remain risks to the outlook.
Inflation forecast to increase
Inflation fell to 1.9% in June from 2.1% in May, driven by milder price pressures in Finland and Sweden. This year, average inflation for the region is forecast to increase from 2020’s muted level due to higher household spending and continued loose monetary policy. The risk of slower-than-expected recoveries in labor markets across the region clouds the outlook.
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Nordic Economies Economic News
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Finland: Inflation increases to three-month high in August
September 14, 2021
Consumer prices rose 0.23% in August over the previous month, below July's 0.33% increase.
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Denmark: Inflation hits over eight-year high in August
September 10, 2021
Consumer prices fell a seasonally-adjusted 0.19% in August over the previous month, swinging from July's 0.67% rise.
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Norway: Inflation hits over two-year high in August
September 10, 2021
Consumer prices were unchanged over the previous month in August, following the 0.87% price increase recorded in July.
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Norway: New government likely to be a Labour-led coalition
August 31, 2021
Norwegians are gearing up to head to the polls on 13 September to elect a new parliament.
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Denmark: GDP rebounds in the second quarter
August 31, 2021
A second national accounts release confirmed that economic activity rebounded in the second quarter, increasing 2.3% on a seasonally-adjusted quarter-on-quarter basis (previously reported: +2.2% s.a.
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