Nordea chief economist Annika Winsth.
Nordea believes that Sweden’s GDP will rise by 3.3 percent in 2016 and 1.7 percent in 2017. According to a recent economic forecast.
the previous forecast, from March 16, was +4.0 percent in 2016 and +2.0 percent for 2017. the growth forecast has thus been reduced to two years.
“the Swedish economy has switched into a slower growth path. the outlook for exports is uncertain, while stimulus for the domestic economy decays, “writes Nordea in economic report.
growth in the Swedish economy slowed during the first half. The main reason was that exports fell after two years of recovery, according to the bank.
“There are few signs of any improvement in exports in the short term. Unfortunately, there are question marks also later when world trade weak structural reasons” , says Nordea chief economist Annika Winsth.
“Although the growth in the domestic economy shifts down next year. This is mainly due to the interest rates that households and companies do not fall anymore. Even a slowing housing market is significant” she continues.
Calendar Adjusted GDP is expected to rise by downward revised 3.0 percent in 2016 (3.8) and 1.9 percent in 2017 (2.2).
the unemployment rate is expected to reach to 6.8 percent in 2016 (6.8) and then drop to 6.6 percent in 2017 (6.9).
CPI is predicted annual average rise by 1.0 percent in 2016 (0.9) and by 1.6 percent in 2017 (1.5).
the corresponding forecasts for CPIF is an upwardly revised 1.5 percent for 2016 (1.3) and 1.7 percent for 2017 (1.6).
“Inflation will stabilize over 2 per cent target. The Riksbank will increase purchases of government bonds and the krona exchange rate strengthened gradually, “writes Nordea in the report.
Private consumption is expected to increase by 2.8 percent in 2016 (2.8) and 1.7 per cent in 2017 (1.8) .
the public savings as a share of GDP is expected to reach 0.0 percent in 2016 (-0.9) and -0.5 per cent in 2017 (-1.1).
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