SEB – Nordic Outlook, Aug 2025

The main theme of the report concerns global economic tensions that hinder growth.

The document discusses the consequences of geopolitical uncertainty, new trade agreements, and their impact on the economy. It also considers issues related to tariffs between the US and China and their potential impact on the economy. The report mentions that the US economy appeared resilient, but recent employment data and revisions of previous months indicate weakening. This has created a complex situation for the Federal Reserve in the context of interest rate decisions. In Europe, challenges related to tariffs and trade agreements with the US are also discussed.