Economic Outlook
Here you will find the archive of DNB Carnegie's biannual forecasts "Economic Outlook".
New report: An economic paradox
– We believe inflation, and therefore interest rates, will remain at a high level for a long time, says Chief Economist Kjersti Haugland (Photo: DNB)
(19 August 2026) Our macroeconomists have released new forecasts in the Economic Outlook report.
In their forecasts, they address why the global economy can be so robust despite significant geopolitical unrest and high energy prices. They believe the explanation lies in increased investment in defence, energy, infrastructure and technology. At the same time, this resilience comes at a cost. When security considerations increasingly outweigh efficiency, it contributes to higher inflation, rising debt and interest rates that may remain at a high level for a long time.
Economic Outlook
ECONOMIC OUTLOOK: The price of increased resilience is higher costs, inflationary pressure and rising government debt, which in turn contribute to high interest rates, write DNB Carnegie's macroeconomists in their latest report.
Half-yearly forecasts and updates
The half-yearly forecast 'Economic Outlook' is presented by our macroeconomists in January and August respectively. Brief updates may also be published throughout the year.
The full report is available in English only; the Norwegian version is an executive summary.
Economic Outlook August 2026 (PDF)Open the file in a new tabEconomic outlook, Norwegian executive summary 02-2026 (PDF, Norwegian)Open the file in a new tab
Economic Outlook Update May 2026 (PDF)Open the file in a new tab
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 the DNB Carnegie research portal DNB 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 solely for information purposes 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.