Nordic Outlook Update: World economy slowing, but recession will be mild
So far, the global economy has shown unexpectedly great resilience. Looking ahead, however, households will be under mounting pressure from rising interest rates, high inflation and energy shortages. We have thus lowered our growth outlook for 2023 and 2024. Some businesses have good potential to cope relatively well, which suggests a fairly mild decline from a historical perspective. But the risks in our forecast are on the downside, linked to various consequences of the war in Ukraine and the possibility that central banks may be underestimating the interest rate sensitivity of their