Europe Data Response Euro-zone Industrial Production (July) The further increase in industrial production in July confirmed that the sector is continuing to recover. But output is still some way below its pre-crisis level and the pace of the rebound has slowed... 14th September 2020 · 2 mins read
Nordic & Swiss Data Response Norway & Sweden Consumer Prices (Aug.) Signs of rising domestic price pressures in Norway raise the chance of a hawkish shift by the Norges Bank at the next meeting. However, with imported price inflation set to peak soon, and services... 10th September 2020 · 2 mins read
Europe Data Response Euro-zone GDP & Employment (Q2) The third estimate of euro-zone GDP showed that the plunge in economic activity in the second quarter was broad-based, with investment and exports faring particularly poorly. The rapid rebound in Q3... 8th September 2020 · 2 mins read
Nordic & Swiss Data Response Norway GDP (Jul.) Data released this morning show that the rebound in economic activity in Norway lost a bit of steam in July, which is in keeping with signs elsewhere in Europe. Nonetheless, given that the plunge in... 8th September 2020 · 2 mins read
Europe Data Response German Industrial Production (July) German industry eked out a meagre increase in production in July, leaving output still well below its pre-crisis level. Production is likely to have increased again in August, but we now seem to be... 7th September 2020 · 2 mins read
Europe Data Response Euro-zone Retail Sales (July) & Final PMIs (Aug) The recovery in euro-zone retail sales ended in July as sales fell slightly. And final PMIs for August suggest that the economy is growing only slowly, while Italy and Spain’s recovery may have gone... 3rd September 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Aug.) The current bout of deflation in Switzerland is likely to persist well into next year, and will continue to be a headache for the SNB, particularly given the recent rise in the franc against the US... 3rd September 2020 · 2 mins read
Europe Data Response Euro-zone Flash HICP (Aug.) & Unemployment (July) Euro-zone core inflation fell to a record low of 0.4% in August and we think that it will remain around that level for the next year at least. Meanwhile, labour market data also published today show... 1st September 2020 · 2 mins read
Nordic & Swiss Data Response Manufacturing PMIs (Aug.) The positive set of August manufacturing PMIs from Switzerland and the Nordics suggests that the recovery in industrial activity continued over the summer. While the fortunes of industry depend in... 1st September 2020 · 2 mins read
Europe Data Response EC Survey (August) The increase in the EC’s Economic Sentiment Indicator (ESI) for August was smaller than in the previous two months and left it well below its February level, while the index for Spain actually fell... 28th August 2020 · 2 mins read
Nordic & Swiss Data Response Sweden Economic Tendency Indicator (Aug.) The rise in Sweden’s Economic Tendency Indicator (ETI) in August was smaller than in the previous two months and suggests that although the recovery there continued in Q3, it may already be slowing... 27th August 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland GDP (Q2) Data released this morning show that the Swiss economy weathered the crisis comparatively well in the first half of the year. While its fortunes are closely tied to those in the euro-zone, signs that... 27th August 2020 · 3 mins read
Europe Data Response German GDP Q2 2020 (2nd Est.) & Ifo Survey (Aug.) The second estimate of Q2 German GDP confirms that all elements of domestic demand except government spending fell sharply. A big rebound in Q3 is already baked in the cake, but survey evidence... 25th August 2020 · 2 mins read
Nordic & Swiss Data Response Norway GDP (Q2) While Sweden’s light-touch response to Covid has hogged the headlines, data released this morning show that the Norwegian economy outperformed its Nordic cousin in the first half of the year, and is... 25th August 2020 · 2 mins read
Europe Data Response EC Consumer Confidence (August) With the number of confirmed virus cases rising and employment support schemes being run down, it comes as no surprise that the EC’s measure of consumer confidence levelled off in August. That is... 21st August 2020 · 3 mins read
Europe Data Response Euro-zone Flash PMIs (August) The fall back in the euro-zone Composite PMI in August suggests that the initial V-shaped rebound following the lifting of the lockdowns is already fizzling out. We suspect that activity will remain... 21st August 2020 · 2 mins read
