Nordea Economic Outlook: The wage engine
The escalation of the trade dispute between the US and the rest of the world has hit momentum in the global economy and that will only become more pronounced over the near- to mid-term.Wage pressures in the Nordic countries have been conspicuous by their absence because of a focus on competitiveness in wage negotiations. But with employment continuing to rise, wage growth originating from Germany will inevitably spill over to the Nordic labour markets, says Nordea’s Group Chief Economist Helge J. Pedersen.The Swedish economy is still doing fine, supported by strong domestic demand.