1. NORDIC OUTLOOK
FEBRUARY 2017
Complex cyclical and
political forces
Stronger
GDP
growth
Brighter US outlook,
but Trump-driven uncertainty
EU more optimistic amid
political worries
Broad-based
Swedish growth
– December 2017
rate hike
Improving growth outlook
in the Nordic & Baltics
countries
w w w . s e b g r o u p . c o m
Political turbulence will open the way for both negative
and positive economic outcomes in 2017-2018.
Protectionism and isolationism will be offset by optimistic
and improved growth signals. 2017 will be dominated
by predictable unpredictability.
Trump is creating worries but US
households and small businesses are
optimistic. We expect two FED hikes in 2017
and three in 2018.
1.15 %
2.3 %
3.45 %
4.6 %
Global OECD EM
0 %
2
4
6
8
10
EUR/SEK USD/SEK
0
8.95 8.70
3.6 %
2.1 %
4.6 %
We expect ECB to prepare exiting
QE during autumn 2017.