Nordea Economic Outlook: The Inflation Standoff
The global economy got off to a good start in 2023, driven by a sharp fall in energy prices, strong labour markets and the reopening of the Chinese economy. This doesn’t mean growth prospects have improved since the winter, however. Inflation is still too high, requiring further monetary policy tightening. The need for a rapid green and digital transition, coupled with sharply rising defence spending, will change global demand over the coming years, says Helge Pedersen, Nordea Group Chief Economist. The same pattern will likely emerge in the Nordic countries, which are incidentally