Economic Outlook
Here you will find the archive of DNB Carnegie's (formerly DNB Markets) biannual forecasts "Economic Outlook".
Our macro team, with Senior Economist Oddmund Berg, presents economic forecasts in the report "Economic Outlook". Find the full report at this page or on the research portal
DNB Carnegie believe geopolitical turmoil will provide economic momentum
(Jan 21, 2026) The macro analysts at DNB Carnegie have released the report “Economic Outlook,” which offers projections for the Norwegian and international economy.
After dramatic weeks, with Trump’s countless antics taking center stage and significant market turbulence, economists’ expectations for an economic upswing in the U.S. and Europe are paradoxically strengthened. At the same time, they believe that growth in China will, in all likelihood, meet the targets set by Chinese authorities.
So what does this mean for the economy going forward — for interest rates, employment, wage growth, and inflation?
Economic Outlook
The year has started dramatically, write the macroeconomists in January 2026. They believe that the turbulence paradoxically strengthens the outlook for economic recovery going forward.
Biannual forecasts
The biannual forecast "Economic Outlook" is presented by our macroeconomists in January and August respectively.
The full report is only available in English; the Norwegian version is an executive summary.
Economic Outlook January 2026 (PDF)Open the file in a new tabEconomic Outlook, Norwegian executive summary 01-26 (PDF)Open the file in a new tab
The report is also published on DNB Carnegie's analysis portalDNB Carnegie Research Portal
Economic Outlook from previous years
Disclaimer
The views expressed in reports available on this website reflect the macroeconomists' views on the various markets and conditions. Opinions in the forecasts represent the macroeconomists' current opinion – at the time the reports are prepared – and may change without notice.
The reports are prepared for information purposes only by DNB Carnegie. The reports are the property of DNB Carnegie.
The note (the "Note") must be seen as marketing material and not as an investment recommendation within the meaning of Regulation (EU) NO 596/2014 on market abuse (Market Abuse Regulation) and associated rules, implemented in the relevant jurisdiction.