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IBOS member Nordea releases its global economic forecasts, upgrading expectations for growth in Emerging Markets and in the US and the UK.

Nordea’s new economic forecasts project global growth of 3.1% in 2016, 3.3% in 2017 and 3.4% in 2018, which represents a slight increase to the forecasts from September.

Helge J. Pedersen, Group Chief Economist, Nordea, commented:

“The more benign outlook is based on Emerging Markets benefiting from higher commodity prices as well as upgraded forecasts for the UK and the US. The UK economy seems to be more resilient to Brexit than feared, and so far we give the benefit of the doubt to Donald Trump’s economic policy.”

“Political uncertainty is the biggest risk to the outlook, and we are especially worried about the increasing tendency to build barriers to the free trade of goods and services. This will inevitably hurt small open economies such as the Nordic countries.”

Read the full release, via Nordea’s website, here.