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All Macro Forecasts

Global macro forecast — Global tensions - but no recession

• Challenging road ahead for the Nordics
• Monetary policy will ease but not remove the pain
• Markets will remain uneasy

Christina Nyman, Chief Economist | chny09@handelsbanken.se

Global konjunkturprognos — Globala spänningar - men ingen recession

• Mödosam väg framåt för Norden
• Penningpolitik mildrar men konjunkturen bromsar ändå in
• Finansiella marknader fortsatt skakiga

Christina Nyman, Chief Economist | chny09@handelsbanken.se

Talousennuste — Maailmantalous heikosti varustautunut

• Maailmantalous heikosti varustautunut
• Varovaiset kuluttajat ennakoivat hitaampaa kasvua

Tiina Helenius, Chief Economist Finland | tihe01@handelsbanken.se

Macro Forecast Norway — Coming in for landing

• Global growth slowing; central banks reassess the interest rate outlook
• Oil-driven growth to increase in 2019, but slow from next year
• Housing prices continue upward, albeit at a slower pace than nominal wages
• Interest rates on the rise, but Norges Bank will not come far

Kari Due-Andresen, Chief Economist Norway | kadu01@handelsbanken.no

Konjunkturrapport — Inn for landing

• Global vekst bremser ned, og sentralbankene vurderer renteutsiktene
• Oljedrevet opptur i 2019, men det bremser allerede fra neste år
• Boligprisene stiger videre, men trolig noe mindre enn lønnsveksten
• Rentene er på vei opp, men Norges Bank kommer ikke langt

Kari Due-Andresen, Chief Economist Norway | kadu01@handelsbanken.no

Global Macro Forecast — Meagre shelter for the global economy

• Economic slowdown and long period of weak growth
• Persistent political worries; households increasingly cautious
• Central banks change course, but their toolboxes look empty

Lena Fahlén, Head of Economic Research | leli15@handelsbanken.se