Economic Snapshot for the Nordic Economies
September 28, 2022
Economic Growth
Economic growth in the region will moderate this year and soften further in 2023. The positive effect of tight labor markets and strong wage growth should ease pressure exerted by higher interest rates and elevated inflation, while fears of a global slowdown bode ill for the external sector. Falling house prices, household debt levels and geopolitical tensions are key risks.
Inflation Outlook
Regional inflation accelerated to 8.3% in August (July: 7.9%), amid intensifying price pressures in Denmark and Sweden, which more than offset moderating inflation in Finland, Iceland and Norway. Inflation in the region is set to gradually moderate during the remainder of the year and into 2023 due to tighter monetary policies.
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5 years of Nordic Economies economic forecasts for more than 30 economic indicators.
Nordic Economies Economic News
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Denmark: Consumer sentiment dives to fresh record low in September
September 22, 2022
Consumer sentiment plunged to a new record low of minus 32.1 in September, down from the prior month’s minus 25.1.
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Norway: Norges Bank delivers another 50 basis point hike in September, hints at more to come
September 21, 2022
At its 21 September meeting, the Executive Board of Norges Bank unanimously voted to increase the sight deposit rate by another 50 basis points, bringing it to 2.25%—its highest level since November 2011.
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Sweden: The Riksbank delivers larger-than-expected hike in September
September 20, 2022
At its meeting on 19 September, the Riksbank delivered its largest increase in nearly 30 years: a 100 basis point raise, bringing the policy rate to 1.75%.
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Sweden: CPIF soars to over three-decade high in August
September 14, 2022
Consumer price with a fixed interest rate inflation jumped to 9.0% in August, up from July’s 8.0%.
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Finland: Harmonized inflation moderates in August
September 14, 2022
Harmonized inflation came in at 7.9% in August, down from July’s 8.0%.
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