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picture News February, 27 2021
image: SEB’s Nordic Outlook, May 2013 SEB’s Nordic Outlook, May 2013

At the May 29th Business Lunch, Daniel Bergvall - Economist at SEB Economic Research in Stockholm, and Ruta Arumäe - Chief Economist at SEB Macroeconomic analysis in Tallinn, gave their comments to SEB’s latest Nordic Outlook.

- Weaknesses in the euro zone continue to hamper Swedish manufacturers, leading to subdued exports and capital spending. We thus anticipate a Swedish below-trend growth this year followed by modest acceleration during 2014, said Daniel Bergvall.

- The economic growth in the Baltics is slowing down and the export is struggling since our export markets are cooling down. The European prolonged recession is a main negative risk and it seems like there is nowhere to import confidence from. The question is if domestic demand will follow this trend, commented Ruta Arumäe.

In the general assessment, SEB Nordic Outlook writes:

“Despite many positive forces, the global recovery is surrounded by continued uncertainty. The downside risks are mainly connected to the major problems of the eurozone.”

A report on SEB’s Nordic Baltic Outlook and Daniel’s and Ruta’s presentations will follow in the coming issue of SCCE’s magazine focus.

On behalf of the SCCE Council, I would like to thank Daniel Bergvall, Ruta Arumäe and SEB for a very interesting outlook on the current macro economy. My thanks also go to Radisson Blu Hotel for an excellent Business Lunch, and to my colleagues from the British-Estonian, Danish-Estonian, Finnish-Estonian and German-Baltic Chambers of Commerce for a good cooperation in supporting the Business Lunch.


Kristiina Sikk
SCCE Ombudsman

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· Nordic Outlook

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