Nordea forecasts stable economic growth

Nordea sees the Finnish economy being on a firmer footing now as both foreign trade and domestic demand contribute to growth.

Export demand has picked up following the new momentum in world trade, and, going forward, employment should improve and support private consumption while business investment continues to increase rapidly, said the bank in a press release.

In a report released on Wednesday, Nordea also expressed its expectation that the global economy would grow by 3.6 per cent this year, 3.7 per cent in 2018, and 3.6 per cent in 2019.

“The outlook for the advanced economies looks solid amid uncertainties surrounding Donald Trump’s economic policy, the Brexit negotiations, increasing geopolitical risks and financial market reactions to the expected tightening of monetary policy. Also Emerging Markets seem to be back on a more sustainable growth trajectory,” said Nordea Group Chief Economist Helge J Pedersen.

The group’s outlook for the Nordic countries has improved further, with 2017 appearing to be the strongest growth year for the region since 2010.