Finland’s budding economic growth faces potential setbacks from trade tariffs, Economic Outlook published on Wednesday by Nordea Bank, the largest bank in the Nordic countries.
While inflation and interest rates boost purchasing power, increased uncertainty may delay private consumption and investment, said the outlook.
The housing market shows increased activity, but prices remain stagnant. Oversupply in rentals continues to deter new construction.
The global economy faces significant uncertainty due to President Trump’s tariff war with the rest of the world, said Nordea.
“We do not expect a global recession in our baseline scenario, and we believe that Europe, particularly the Nordic region, is well-positioned to weather the storm,” said Helge Pedersen, Nordea Group Chief Economist.
This resilience is primarily due to solid public finances and the large surpluses on external balances in most Nordic countries, with Finland being the exception.
Furthermore, as small, open economies, the Nordic countries are used to navigating uncertain times, especially concerning foreign trade.
- Economic growth
- Finland
- Setbacks
- Tariffs
Source: www.dailyfinland.fi
