Branschrapport:
SERVICES & CONSUMERS – INBRIEF ANALYSIS – SWEDEN, NORWAY, DENMARK

Branschrapport: SERVICES & CONSUMERS – INBRIEF ANALYSIS – SWEDEN, NORWAY, DENMARK

DENMARK: The favorable GDP growth in Denmark in 2017 (+2.2%) is projected to continue with growth of close to 2% in 2018 and 2019, supported by accelerating private consumption and an improved external environment. While rising labour force participation will partly help to meet growing labour demand, wage and price inflation are expected to rise as labour shortages increase. The fiscal policy stance is expected to support growth. The Services segment is extremely important for employment in Denmark and is also an area where many startups are fostered.

NORWAY: The Norwegian economy is faring well at the moment. GDP is expected to rise by 2.1% during 2019 (up from 1.8% in 2018) and strengthen further by 2.6% in 2020. Growth in both household consumption and government and business investments means a positive climate for Norwegian services companies in coming years. The low value of the Norwegian krone is further helping exporting companies.

SWEDEN: Even though the current strong economic development is expected to level off in the next few years, growth in GDP is still forecasted at + 2% and private consumption remains strong. Therefore, there is a good foundation for the service industry to continue to grow. Over 700,000 companies are registered in the service industry and this is by far the largest industry when measured this way. In addition, it is extremely important in employment terms, as it employs 2/3 of employees in the private sector.

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