Norwegian and Swedish corporates are well positioned for growth and strong performance in 2026, according to a report published by Nordic Credit Rating (NCR) today. Many companies have prioritised financial strength and efficiency in recent years and as such have the capacity to invest in growth once the economy recovers.
The Swedish economy is showing signs of picking-up, supported by rising household incomes and easing inflation. In Norway, there are mixed signals with weakening consumer confidence and slower mainland economic growth. However, we see increasing demand across the Nordic region for public infrastructure investments, including electricity and grid capacity, transport and AI related infrastructure which is expected to drive activity for many companies.
"We believe that improved consumer confidence, supported by ongoing wage growth, stable interest rates and lower inflation, will drive household spending this year," said NCR credit analyst Elisabeth Adebäck. "Corporates are also expected to benefit from continued business and public spending in defence, technology and infrastructure, particularly to address regional security concerns."
Swedish households have maintained a high savings rate and limited spending through much of 2025. We now expect savings to decline, supporting increased consumer spending. A recovery in housing transactions is also anticipated, following a prolonged period of low activity and eased bank lending requirements. This could further support increased demand for discretionary home improvement purchases.
Supported by strong financial positions, good access to capital and relatively low interest rates, we expect companies to increase investments, including potential acquisitions. Other companies may focus on streamlining their operations, with increased mergers and acquisitions activity presenting good opportunities to divest non-core businesses.
Contacts:
Elisabeth Adebäck, analyst, +46700442775, elisabeth.adeback@nordiccreditrating.com
Geir Kristiansen, analyst, +4790784593, geir.kristiansen@nordiccreditrating.com
Gustav Nilsson, analyst, +46735420446, gustav.nilsson@nordiccreditrating.com