- On the global level we can see a moderate, but unsynchronised upturn, said Daniel Bergvall, Economist at SEB Economic Research in Stockholm, as he commented on the bank's October edition of their Eastern European Outlook at a 3 November Business Lunch, jointly arranged by the Swedish and Finnish Chambers of Commerce in Estonia together with SEB.

- Estonia shows a decent growth supported by a domestic consumption boom. Though exports to Sweden, Estonia's biggest foreign market, have increased considerably we have lower GDP expectations for Estonia in 2015. Weak total exports in the beginning of the year and a wage growth not in line with business performance support our forecast, continued Daniel.

- Sweden shows good growth, but is facing major economic policy challenges. Besides residential investments, rising household consumption is the strongest force behind Sweden's growth. Due to low inflation and rising employment, real incomes will rise both this year and next.

- Due to the structural and cyclical problems that it has grappled with in recent years, Finland is in a weak restart position and faces zero growth this year following three consecutive years of falling GDP, concluded Daniel Bergvall

The coming issue of SCCE's magazine focus takes a closer look at SEB's Eastern European Outlook and the full version is also available in .pdf-format at www.sebgroup.com.

On behalf of SCCE, I would like to thank Daniel Bergvall and SEB for an interesting presentation. My thanks also go to Park Inn by Radisson Meriton Conference & Spa Hotel for a great set up and an excellent lunch buffet, and, last but not least, many thanks to Kelli Püss at FECC for a very good cooperation in arranging our joint Business Lunch.

Sincerely,

Kristiina Sikk

SCCE Ombudsman