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Nordea feels that the Swedish economy will start to grow in the second half and Scandinavian economies will improve

Tuesday, 27 March 2012
Sweden's economy will start growing again from the middle of 2012, after a weak start of the year. The labour market will lag behind and situation is tipped to improve slightly until next year.

This is the view of the biggest Nordic banks, Nordea it writes and published in its economic forecast presented on Tuesday.

Sweden's GDP would fall by 0.3 percent this year and increase by 1.8 percent next year.
In its last forecast, on December 1, Nordea counted a GDP growth of 0.0 percent in 2012 and 1.5 percent 2013.

Risk propensity has increased significantly since the ECB stepped in and took a more active role. Several external factors are holding back the recovery, however. Economic activity slows down when government finances will be cleaned up. In addition, new regulations for the financial sector have hampered lending.

Financial bailout has not solved the underlying problems in Europe. Rather, it is to gain time in order to grasp the longer-term structural problems.

In other areas, Nordea feels that Norway has become the Nordic growth comet, not least thanks to a strong trend in domestic demand. However, a sharp increase in the labour force will prevent any significant drop in unemployment. Inflation will remain low and wage growth will be relatively moderate.

The Danish economy is improving - unemployment is declining, consumers are more positive, expectations for the future in the manufacturing sector are steadily rising and exports are higher than ever.

Against this background, Nordea reiterate in their December forecast of an overall expansion of the Danish economy of 1 percent this year, rising to 1 percent in 2013. The biggest challenge to the Danish economy is no doubt the housing market, as the sharp house price declines in Q4 are a cause for concern.
Read more the of report here
By Team

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