Iceland Economic Outlook
June 26, 2018Economic growth surged in the first quarter of 2018 to the best performance since Q4 2016, following a disappointing slowdown at the end of last year. Gains in the quarter were broad based, fueled by both private consumption and investment; the external sector also recorded a robust performance. Dynamism in the tourism sector was likely a major factor, driving residential construction investment to surge by over a third year-on-year, and supporting healthy gains in the labor market. This likely continued into Q2: In May, real wages surged and unemployment fell, as Iceland entered its tourism high season.
Iceland Economic GrowthGrowth in the tourism sector should soften somewhat this year after exceptional gains in 2017, leading to a moderation of economic activity as private consumption growth slows. Investment growth should also moderate from the high levels recorded in previous years, while the strong krona will drag on export momentum. Our panelists expect GDP to rise 3.3% in 2018, unchanged from last month’s forecast, and 2.9% in 2019.
Iceland Economy Data
5 years of Iceland economic forecasts for more than 30 economic indicators.
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|Bond Yield||5.34||-0.99 %||Jul 17|
|Exchange Rate||116.7||-0.52 %||Jul 17|
|Stock Market||1,268||-0.32 %||Jul 17|
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