Nordea Economic Outlook: Shaky ground
“The trade war, political uncertainty in Europe and tighter financial conditions are hurting economic development, and we have downgraded expectations for growth in the world economy this year and next,” says Nordea’s Group Chief Economist, Helge J. Pedersen. “In the Nordics, the focus is on higher policy rates and their likely impact on each country. The role of household debt and its effect on the housing market will not be trivial, and interest rate sensitivities pose downside risks to the Nordic economies, be it at varying degrees.” The Swedish economy has gradually lost steam on the