Economic Snapshot for the Nordic Economies
December 22, 2020
The Nordic economy is set to recover in 2021 as improving consumer and capital spending, combined with continued fiscal stimulus, drive a rebound in domestic demand. While exports should benefit from a pickup in global trade levels, uncertainty regarding future demand for oil and the spate of reimposed lockdowns in Europe and the U.S. cloud the outlook markedly.
Nordic Economies Financial & Monetary Sector News
Inflation came in at 0.7% in October, unchanged from September’s reading. In 2021, regional inflation is forecast to pick up on higher consumer spending and improving labor markets, having fallen significantly this year. However, relatively low oil prices and uncertainty around the trajectory of the pandemic are likely to keep price pressures muted nonetheless.Central banks in the region maintained ultra-accommodative monetary policies over the past month, with Norges Bank holding rates at 0.00% at its 5 November meeting. Overall, regional monetary policy is projected to remain loose in 2021 as central banks seek to continue measures taken this year to bolster the economic recovery.
Central banks in the region maintained ultra-accommodative monetary policies over the past month, with Norges Bank holding rates at 0.00% at its 5 November meeting. Overall, regional monetary policy is projected to remain loose in 2021 as central banks seek to continue measures taken this year to bolster the economic recovery.
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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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Sweden: Inflation hits highest level since August in December
January 15, 2021
Consumer prices with a fixed interest rate increased 0.73% from the previous month in December, picking up from November's 0.05% increase.
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Norway: Inflation rises in December
January 11, 2021
Consumer prices rose 0.44% in December over the previous month, contrasting November's 0.71% fall.
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Denmark: Inflation ticks down in December
January 11, 2021
Consumer prices fell 0.19% in December over the precious month, worsening from November’s 0.10% drop and marking the sharpest price decrease in four months.
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Sweden: Industrial output flatlines in November
January 8, 2021
Industrial output rose 1.1% in month-on-month seasonally-adjusted terms in November, which followed October's 1.4% increase.
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Norway: Industrial output rebounds in November
January 8, 2021
Industrial output increased 1.8% month-on-month in seasonally-adjusted terms in November, contrasting October’s 3.6% drop.
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