Nordea raises Estonia's 2018 economic growth forecast to 3.9 percent

Nordea raised its economic growth forecast for Estonia's 2018 GDP from its January estimate of 3.7 percent to 3.9 percent.

The bank is expecting Latvia to see four percent economic growth this year, up 0.1 percent from its January estimate, while the bank adjusted its forecast for GDP growth in Lithuania to be 0.3 percent lower at 3.2 percent, it appears from the fresh Economic Outlook published by the bank - writes err.ee.

Nordea increased last year's economic growth in Estonia by 0.9 percent to 4.9 percent. Latvia's growth was increased by 0.7 percent to 4.5 percent, and Lithuania's economic growth was increased by 0.3 percent to 3.8 percent.

For 2019, Nordea is estimating 3.2 percent economic growth in Estonia, 3.5 percent in Latvia and three percent in Lithuania. In January, the bank forecasted three percent growth in Estonia, 3.5 percent in Latvia and 3.4 percent in Lithuania next year.

Nordea is estimating inflation this year to be three percent in Estonia, down 0.4 percent from its January estimate, but left its estimate of 2.5 percent inflation in 2019 unadjusted.

According to the bank, prices in Latvia and Lithuania are to increase three percent and 2.2 percent, respectively, this year, while inflation is to increase 2.5 percent in Latvia and 2.2 percent in Lithuania next year.

Editor: Aili Vahtla

Source: BNS

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