Europe Data Response Germany Flash Inflation (July) The increase in German inflation to 8.5% in July was higher than most anticipated and suggests that euro-zone inflation will also come in above expectations tomorrow. This will support what we assume... 28th July 2022 · 2 mins read
Europe Data Response EC Survey (Jul.) The bigger-than-expected decline in the EC Economic Sentiment Indicator in July adds to a growing list of indicators pointing to activity slowing markedly in July. With the region’s gas supply now... 28th July 2022 · 2 mins read
Nordic & Swiss Data Response Sweden GDP Indicator (Jun. & Q2) The 1.4% q/q increase in Swedish GDP in Q2 poses upside risks to our below-consensus forecast for GDP growth in 2022. But with a recession on the cards in late 2022 and early 2023, activity is... 28th July 2022 · 2 mins read
Europe Data Response German Ifo Survey (Jul.) The further decline in the German Ifo Business Climate Index (BCI) in July adds to the evidence that the German economy is on the brink of a recession as high energy prices and worries about energy... 25th July 2022 · 2 mins read
Europe Data Response Euro-zone Flash PMIs (July) July’s flash PMIs suggest that the euro-zone is teetering on the brink of recession due to slumping demand and rising costs while inflationary pressures remain intense. The ECB will have to follow up... 22nd July 2022 · 2 mins read
Europe Data Response Euro-zone Final HICP (June) Final inflation data for June confirm that price pressures are very strong. Whether or not the ECB hikes by 50bp on Thursday, we think it will be the beginning of an aggressive 12 months of tightening... 19th July 2022 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Jun.) The stronger-than-expected increase in Swedish inflation in June will only strengthen the resolve of policymakers to squeeze inflation out of the system and raises the chance that the Bank will make... 14th July 2022 · 2 mins read
Europe Data Response Euro-zone Industrial Production (May) May’s 0.8% monthly increase in euro-zone industrial production was largely due to a huge rise in Ireland’s output. Excluding Ireland, production decreased slightly in May. Moreover, high-frequency... 13th July 2022 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Jun.) The services-driven increase in Norway’s core inflation rate in June increases the chance that the Norges Bank will raise its policy rate by another 50bps at its August policy meeting. 11th July 2022 · 2 mins read
Europe Data Response German Industrial Production (May) May’s small rise in industrial production in Germany was not big enough to change our view that output in the sector is likely to have declined in the second quarter. And with the timelier surveys... 7th July 2022 · 2 mins read
Europe Data Response German Industrial Production (May) May’s small rise in industrial production in Germany was not big enough to change our view that output in the sector is likely to have declined in the second quarter. And with the timelier surveys... 7th July 2022 · 2 mins read
Europe Data Response EZ Retail Sales (May) The small increase in euro-zone retail sales in May, after a steep fall in April, suggests that high inflation remains a drag on consumption. Although re-opening effects may have boosted consumption... 6th July 2022 · 2 mins read
Europe Data Response Euro-zone Final PMIs (June) June’s final Composite PMIs confirmed the message from the flash release that activity is softening and that firms expect weaker conditions ahead. And price pressures remain intense throughout the... 5th July 2022 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Jun.) Although Swiss inflation remains enviably low compared to many advanced economies, the further increase in the core rate will only strengthen the SNB’s resolve to squeeze price rises out of the system... 4th July 2022 · 2 mins read
Europe Data Response Euro-zone Flash HICP (June) The further big increase in the euro-zone inflation rate came despite a substantial fall in Germany that was driven by regulatory changes, and shows that underlying price pressures remain... 1st July 2022 · 2 mins read
Europe Data Response Euro-zone Unemployment (May) The fall in the euro-zone unemployment rate in May to a new record low reaffirms the strength of the region’s labour market despite the apparent softening of activity. That will underpin an... 30th June 2022 · 2 mins read
