Nordic growth stalls amidst international slowdown

Economic indicators suggest that the world economy is facing a very uncertain period. Activity has slowed sharply in both the US and the Euro area, and the baseline scenario now factors in low growth in the ‘old world’ over most of the forecast period (now up to and including 2013). It must be emphasised that the risk of a new, but shallow recession in both regions is quite high, writes European banking group Nordea.