The impact of the crisis on the individual countries varies significantly. In Denmark, Finland and Iceland, GDP is still lower than before the crisis. The downturn in Norway and Sweden was very brief but even they are now showing signs of a gradual slowdown, Sweden in particular, although growth there is expected to rise again in 2014.
The report also looks at labour-market conditions and public finances. Unemployment rates in the three Scandinavian countries are under control but the Finnish rate is expected to rise to over 8%. The rate in Iceland is expected to fall to 5% next year, a full percentage point down.