The year 2022 was characterized by falling stock markets, lower growth and sky-high inflation.
And 2023 also looks bleak in economic terms.
- Unfortunately, 2023 is a lost economic year and we have challenges not least in the home market in Sweden, but we also have an external world that is slowing down and now we have to deal with it, says Annika Winsth, chief economist at Nordea.
But there are also economic glimmers of light in several parts of the world.
China has abandoned its covid restrictions earlier than expected, causing the economy to take off.
On Tuesday, the major American bank Goldman Sachs announced that it is raising its growth forecast for the euro area and that it expects inflation to fall faster than expected.
Rising Stockholm Stock Exchange
And in the US, the latest labor market statistics show that employment increased more than expected while wages rose less than expected.
It is a positive signal for the US central bank, which has expressed concern that high wages continue to keep inflation high.
In addition, the cautious optimism is visible on the stock market.
The Stockholm Stock Exchange has risen since the turn of the year, and counting since the bottom that was reached on September 29, the stock exchange's broad index has risen over 20 percent.
Hear the banking economists about the glimmers of light in the economic darkness in the clip above.