Europe Data Response German Flash CPI (Apr.) German HICP inflation dipped from 1.5% to 1.4% in April as increases in energy and food inflation were offset by a fall in the core rate. While the latter partly reflected temporary effects, the... 30th April 2018 · 1 min read
Nordic & Swiss Data Response Swiss KOF (Apr.) The small rise in the KOF Economic Barometer in April is consistent with continued healthy growth in Switzerland. But with inflation still very weak, we expect the SNB to strong monetary policy... 30th April 2018 · 1 min read
Europe Data Response EC Business & Consumer Survey (Apr.) April’s unchanged reading in the EC’s measure of euro-zone economic sentiment provides further reassurance that the weakness of activity in Q1 does not mark the start of a sharp slowdown. 27th April 2018 · 1 min read
Europe Data Response French and Spanish GDP (Q4) & Flash CPI (Apr.) The first estimates of French, Spanish and Austrian GDP in Q1 suggest that quarterly growth in the euro-zone as a whole slowed from Q4’s 0.7% to around 0.4%. Meanwhile, there were no signs of rising... 27th April 2018 · 1 min read
Europe Data Response German Ifo Survey (Apr.) April’s disappointing Ifo survey added to signs that the German economy is slowing, but not as sharply as recent hard data imply. This is further cause for caution ahead of the ECB’s meeting this... 24th April 2018 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Apr.) April’s PMI surveys suggest that the apparent sharp slowdown in Q1 was not the beginning of a major downturn, although growth is unlikely to return to the rates seen last year. Overall, the data... 23rd April 2018 · 1 min read
Europe Data Response German ZEW Survey (Apr.) April’s further decline in the ZEW measure of investor sentiment in Germany suggests that investors are worried that escalating trade tensions and broader geopolitical concerns will take their toll on... 17th April 2018 · 1 min read
Europe Data Response Euro-zone Trade (Feb.) After widening in February, the euro-zone’s nominal goods trade surplus is on track to be little changed in Q1. Looking ahead, the surveys suggest that the contribution from net trade to economic... 13th April 2018 · 1 min read
Europe Data Response Euro-zone Industrial Production (Feb.) February’s fall in euro-zone industrial production confirms that the sector made a soft start to 2018. But as this partly reflected temporary factors in Germany and the industrial surveys remain... 12th April 2018 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Mar.) Although headline inflation increased to the Riksbank’s target in March, inflation excluding energy remained somewhat weaker. At its April meeting, we expect the Bank to signal that it will raise... 12th April 2018 · 1 min read
Europe Data Response French, Italian & Dutch Industrial Production (Feb.) National data suggest that the euro-zone’s industrial sector fared poorly in February, despite whopping rises in energy production as a result of the unseasonably cold weather across much of the... 10th April 2018 · 1 min read
Nordic & Swiss Data Response Norwegian & Danish Consumer Prices (Mar.) March’s weak inflation data in Norway strengthen the case for the Norges Bank to move only very slowly towards tightening monetary policy. We suspect that it will wait until 2019 to raise interest... 10th April 2018 · 1 min read
Europe Data Response German Industrial Production & French Trade (Feb.) February’s sharp fall in industrial production confirms that the German economy made a soft start to the year. But the business surveys suggest that this should prove to be temporary. 6th April 2018 · 1 min read
Europe Data Response Euro-zone Retail Sales (Feb.) & Final PMIs (Mar.) February’s euro-zone retail sales data suggest that consumer spending made a slow start to 2018. And March’s Composite PMI implies that overall GDP growth has peaked. But we remain fairly optimistic... 5th April 2018 · 1 min read
Nordic & Swiss Data Response Swedish Private Production (Feb.) Despite February’s rise, Swedish private sector production growth appears to have slowed in Q1. But economic growth should remain healthy this year and inflationary pressures are building, so we still... 5th April 2018 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Mar.) The renewed rise in Swiss inflation in March will be welcomed by the Swiss National Bank. But with pipeline price pressures still very subdued, we doubt that the SNB will alter its ultra-accommodative... 5th April 2018 · 1 min read
