Norway’s central bank begins the rate hiking cycle amid strong growth outlook
Our 2021 mainland GDP growth forecast remains unchanged at 4.1%. With all domestic restrictions eased and the pandemic largely under control, the economy will rebound strongly this year.
What you will learn:
- Global supply chain disruptions weighing on manufacturing and elevated inflation hitting consumer purchasing power are headwinds, but the outlook remains broadly positive.
- Growth in 2022 should also come in at 4.1%.
- A remarkable recovery in employment this year has been accompanied by a rising participation rate, disguising the true health of the labour market in the headline unemployment figures.
Latin America Key Themes 2024 – Slower growth, but it’s not all bad news
Growth in most LatAm economies will be below consensus. Economic momentum has surprised to the upside through most of 2023, but the full effects of record global and domestic monetary tightening are yet to be seen.Find Out More
Easing financial conditions offer CRE some respite
Our measure of financial conditions has become less restrictive in the US and started to loosen in the eurozone and the UK, reflecting investors' expectations that interest rates have peaked. This should aid the outlook for commercial real estate (CRE) on the margins, although the scale of past rate hikes, sluggish economies, and structural headwinds mean the sector still confronts challenging fundamentals.Find Out More