Economy

Novo Nordisk's worries
Danish growth halved as Novo loses ground

The Danish government's growth forecast for 2025 has been revised down, according to documents seen by Bloomberg. According to the documents, GDP is expected to grow by 1.4 percent this year, compared with 3 percent forecast in May.

US tariffs and a weakened belief in the future of the pharmaceutical industry are cited as reasons. In this context, Novo Nordisk's setbacks are mentioned, and the government states that exports have decreased as a result of the company losing market share in the US.

"We expect the pharmaceutical industry to continue to be of great importance to the Danish economy, even if we cannot count on the same extraordinary growth as in recent years," writes Economy Minister Stephanie Lose. 

Tariff crisis Trump's tariff policy
Reports: Trump's threat came after meeting with Zuckerberg

Donald Trump's threat of tariffs against countries that tax digital services came just days after he was visited by Meta CEO Mark Zuckerberg at the White House, sources told Bloomberg.

According to the reports, the issue was discussed during the meeting and Zuckerberg is said to have expressed concern about the effects. France and the UK, among others, have such a tax, which is levied on the revenue that tech companies receive from users in a specific country.

In a post on Truth Social, Trump called it "discriminatory" against American technology.

Swedish growth
Experts: "Better mood gives reason to lower interest rates"

This morning's economic barometer was a relief for the Riksbank. This is what SEB's Robert Bergqvist writes in a post on X.

He highlights that companies have stated that they expect prices to remain basically unchanged for the next three months.

“The summer’s ‘inflation ghost’ really does seem to have been on a ‘temporary visit’,” writes the senior economist, adding that this provides grounds for lowering the interest rate.

DI’s Viktor Munkhammar agrees, writing in a comment that both the Riksbank and households can be pleased with a clear decline in price plans. However, it is unclear whether this will be reflected in actual inflation data in time for the interest rate to be lowered in September.

“But there is much to suggest that an economy that finally seems to be on the way to picking up speed,” writes Munkhammar.