Nordic countries face an improved outlook in the coming months,
according to a new report by Nordea.
According to the Nordic bank, Denmark, Sweden, Norway and
Finland all face a brighter future and have started to emerge from
the recession.
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“We can now see that the spring optimism in financial markets
was justified,” said Helge Pedersen, global chief economist at
Nordea.
The report, ‘Economic Outlook’, noted that although Sweden was
“hard hit” by last year’s collapse of world trade, there were now
signs that Sweden could emerge relatively quickly from the crisis.
Denmark, too, is seeing a gradual improvement in the financial
market situation, and this has resulted in lower interest
rates.
Meanwhile, after two consecutive quarters of declining activity,
Norway is seeing its economy grow again, led by higher exports and
higher demand; while Finland is also seeing signs that its economy
is stabilising, the bank said.
“The next big challenge for governments and central banks around
the world is to define the appropriate exit strategy away from
their current expansionary economic policies,” Pedersen added.
“[This] is crucial to avoid another financial market collapse and a
new global economic recession.”
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By GlobalDataOf the Nordic banks, Nordea has been one of the most successful
at tackling the economic downturn in the last year. Nordea’s
leasing arm, Nordea Finans, has also stood out from the crowd,
continuing to grow in countries where other lessors have battened
down the hatches.
Jason T Hesse
