Nordea Halves Growth Forecast ({{commentsTotal}})


Nordea downgraded Estonia's 2013 economic forecast to 1 percent, reported

The Nordic bank's previous annual forecasts were at 2.3 percent in June and 1.9 percent in September.

With GDP growth falling below expectations this year, the banks and the Ministry of Finance have revised their forecasts downward.

Nordea's figure is one of the more conservative ones.

In its most recent forecast, released in September, the Finance Ministry predicted economic growth of 1.5 percent.

Meanwhile, SEB has predicted 1.3 percent and Swedbank 1.6 percent.

Initial estimates for Q3 growth added more gloom to the nation's economic picture as Statistics Estonia marked the year-on-year GDP rise at just 0.4 percent, after a 1 percent gain seen between the second quarters of 2012 and 2013.

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Independence Day: Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.