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A bright outlook for the Nordics
31 August 2010
The outlook for the Nordic economies is still fine though clear signs have now emerged of an international slowdown according to a report by Nordea.
A Nordic advantage is the good starting point for public finances in all the Nordic countries ahead of the Big Recession. This means that the need for radical fiscal policy austerity measures is much smaller here than in most other countries.
The Danish economy has returned to the growth path. The improvement has been aided by consumers now emerging from the shadow of the financial crisis and starting to loosen their purse strings again after being bolstered by income tax cuts and record-low interest rates. Moreover, exporters have finally started to benefit from the decent global upswing. And public spending, while still making a positive contribution to growth, is passing...
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