Download - Macro Research - Handelsbanken

Contents
INTRODUCTION 4
Who will pull the world economy?
US 7
No recovery until 2011
EUROZONE 11
Ballooning output gap will keep rates low for a long time
SWEDEN 15
Sweden hit by a perfect storm
NORDIC REGION 21
Diverging patterns
UK 25
Crisis to cast long shadows on the economy
JAPAN 28
Three more years of slump
EASTERN EUROPE 30
Troubling times
CHINA 32
Here’s one on the right track
INDIA 35
A national election without national issues
LATIN AMERICA 37
Recovery ahead, but 2009 a tough year
FX 39
Little currency impetus from relative interest rates
MONEY AND INFLATION 42
Money matters
KEY RATIOS 48
Contact Information
Martin Enlund, +46 8 463 4633, maen12@handelsbanken.se
Eva Christina Horwitz, +46 8 701 2141, evho03@handelsbanken.se
Jan Häggström, +46 8 701 1097, jaha05@handelsbanken.se
Stefan Hörnell, +46 8 701 34 74, stho09@handelsbanken.se
Tiina Helenius, +35 8 10 444 2404, tihe01@handelsbanken.fi
Tuulia Asplund, +35 8 10 444 2403, tuas02@handelsbanken.fi
Mats Kinnwall, + 46 8 701 44 25, maki03@handelsbanken.se
Petter Lundvik, +46 8 701 3397, pelu16@handelsbanken.se
Gunnar Tersman, +46 8 701 20 53, gute03@handelsbanken.se
Helena Trygg, +46 8 701 1284, hetr01@handelsbanken.se
Thomas Thorkild Haugaard, +45 3 341 8229, thje01@handelsbanken.dk
Knut Anton Mork, +47 2 294 0881, knmo01@handelsbanken.no