A new issue of Statistical Series, presenting the economic forecast for 2013-2018, is now available. The Icelandic economy is predicted to grow by 1.9% in 2013 and by 2.7% in 2014. Private consumption is expected to grow 2.5% in 2013 while investment will contract by 2.3%.  For 2014, private consumption is predicted to increase by 3% and investment by 16.9%. Public consumption remains constant during 2013 and 2014, with slow growth predicted for 2015 through 2018.

Robust private consumption growth and strengthening of the labour market during the first half of 2012, lost some steam during the second half of 2013. The inflation outlook is stable but terms of trade have worsened.  Excluding 2013, investment is growing while remaining low in historical perspective.

The last economic forecast was published 2 November 2012. The next forecast is scheduled for late June 2013.

Economic forecast, spring 2013 - Statistical Series