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Nordea lowers Estonia's growth forecast to 1.9%
BC, Tallinn, 15.06.2016.
Print version
Print versionNordea has cut its gross domestic product growth forecast on Estonia to 1.9% for 2016, compared with an estimate of 2% published in the spring economic forecast, informs LETA/BNS.
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The estimate for 2017 was left unchanged at 2.7%.
Nordea also left the inflation estimate for this year unchanged at 0.2%. The estimate for 2017 was raised by 0.1 points to 2.7%.
The Estonian unemployment rate is seen to be 6.2% this year and 7.1% in 2017. In the spring forecast the corresponding estimates were 6.3% and 7.1%.
The new estimate of the increase in gross wages and salaries is 5.6% for 2016 and 5.5% for 2017, compared with respectively 4.6% and 5.7% in the spring forecast.
Investments are set to grow 0.8% this year and 4.5% in 2017, and private consumption by 3.9% this year and by 2.7% next year. Exports are estimated to grow 1.3% and imports 2.7% this year.
The estimated growth rates for 2017 are respectively 4.4% and 4.1%.
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