Economic Snapshot for the Nordic Economies
June 1, 2022
GDP growth to robust in 2022
Regional growth is set to be the strongest in over a decade this year—barring 2021’s rebound. The removal of virtually all Covid-19 measures is expected to bolster activity. Tighter labor markets and strong wage growth should cushion the impacts of elevated price pressures and tighter monetary policy in the region. Heightened geopolitical tensions are a risk to the outlook.
Inflation forecast to increase
Regional inflation accelerated to 6.1% in April (March: 5.4%) as prices increased at a quicker pace in all countries, other than Finland, in the region This year, rising prices for food and energy will drive up price pressures and push regional average inflation above that of 2021. Once the effect of tighter monetary policy kicks in, it should temper inflation somewhat.
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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 deteriorates to fresh record low in June
June 22, 2022
Consumer sentiment fell further in June, dropping to a fresh record low of minus 24.8, down from May’s minus 22.4.
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Norway: Norges Bank delivers larger-than-expected hike in June
June 22, 2022
At its 22 June monetary policy meeting, the Executive Board of Norges Bank unanimously voted to increase the sight deposit rate by 50 basis points, bringing it to 1.25%.
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Sweden: CPIF jumps to new fresh high in May
June 14, 2022
Consumer prices with a fixed interest rate increased 0.97% over the previous month in May, accelerating from the 0.58% increase seen in April.
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Finland: Inflation comes in at highest level since February 1990 in May
June 14, 2022
Consumer prices increased 1.31% over the previous month in May, accelerating from the 0.32% rise logged in April.
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Norway: Economy contracts in April
June 13, 2022
Economic output declined 0.6% over the prior month in seasonally-adjusted terms in April, contrasting the 1.0% expansion recorded in March.
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