Economic Outlook: Challenging course
The global economy is recovering, but at a slower pace than expected taking into account the extremely expansionary monetary policies and the halving of oil prices since last summer. The challenging global conditions have impacts also on the outlook for the Nordics. The global economy continues to grow at a modest pace, and Nordea expects a 3.1 per cent increase in world economic GDP in 2015 and a 3.5 per cent increase next year. In the Nordics, which are heavily dependent on international trade, we see a mixed picture. - Overall we expect the Nordic region to grow by 1.7 per cent in