Europe Data Response Euro-zone Flash PMIs (Dec.) The rise in the euro-zone Composite PMI capped off a strong year and puts the economy on a very firm footing for the start of 2018. But with the survey’s price indices edging down in December, the ECB... 14th December 2017 · 1 min read
Europe Data Response Euro-zone Ind. Production (Oct.) & Employment (Q3) October’s small rise in industrial production marked a soft start to Q4 but the surveys suggest that the sector will finish the year on a positive note. Meanwhile, employment data for Q3 showed that... 13th December 2017 · 1 min read
Europe Data Response German ZEW Survey (Dec.) December’s dip in German ZEW investor sentiment leaves it still at a high level and suggests that investors do not see political uncertainty as a major threat to the economic outlook. 12th December 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Nov.) Swedish inflation was higher than the Riksbank forecast in November, supporting our view that next week the Riksbank will not announce an extension of its asset purchase programme into 2018. 12th December 2017 · 1 min read
Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Nov.) Inflation in Norway has probably reached a trough, but it is unlikely to rebound strongly. With house price inflation also slowing very sharply, we suspect that at its meeting on Thursday the Norges... 11th December 2017 · 1 min read
Nordic & Swiss Data Response Icelandic GDP (Q3) Very strong Icelandic growth in Q3 somewhat overstates the health of the economy, given that consumer spending was stagnant and exports slumped. That said, surveys bode well for the outlook. 8th December 2017 · 1 min read
Europe Data Response French Industrial Production & German Trade (Oct.) The unexpected jump in French industrial production in October was fairly broad-based and shows that the sector made a very healthy start to Q4. Meanwhile, German trade data for the same month were... 8th December 2017 · 1 min read
Europe Data Response Euro-zone GDP (Q3) The third estimate of euro-zone GDP in Q3 confirmed that the 0.6% expansion was driven mainly by domestic demand. Timelier evidence suggests that the economy has performed well so far in Q4, setting... 7th December 2017 · 1 min read
Europe Data Response German Industrial Production (Oct.) October’s drop in German industrial production largely reflected the timing of holidays – high levels of industrial orders and business confidence point to a renewed acceleration to come. 7th December 2017 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Nov.) November’s rise in Swiss inflation reflected both higher energy prices and a weaker franc. But with inflation still very weak, we doubt that the Swiss National Bank will decide to alter its ultra... 6th December 2017 · 1 min read
Europe Data Response Euro-zone Retail Sales (Oct.) & Final PMIs (Nov.) Warm weather weighed on clothing sales and therefore overall retail sales in October, but November’s rise in consumer confidence to a 16-year high suggests that sales growth rebounded last month. And... 5th December 2017 · 1 min read
Europe Data Response Greece GDP (Q3) Q3’s small rise in Greek GDP reflected a surge in exports, while the domestic economy remained very weak. Financial markets will therefore remain wary of lending to the Government and it seems likely... 4th December 2017 · 1 min read
Europe Data Response Italy GDP (Q3, Breakdown) In Q3, Italy’s economy grew more slowly than the euro-zone as a whole for the ninth straight quarter. Timelier activity surveys suggest that growth will pick up a little in the run-up to next year’s... 1st December 2017 · 1 min read
Europe Data Response Euro-zone Flash CPI (Nov.) & Unemployment (Oct.) November’s rise in headline euro-zone consumer price inflation and the fall in the unemployment rate in October may offer some reassurance to the ECB as it prepares to reduce the pace of its asset... 30th November 2017 · 1 min read
Europe Data Response Spain GDP (Q3, breakdown) The first breakdown of Spanish GDP in Q3 showed that domestic demand growth picked up ahead of Catalonia’s independence referendum. While the Economic Sentiment Indicator painted a positive picture of... 30th November 2017 · 1 min read
Nordic & Swiss Data Response Swiss & Danish GDP (Q3), Swiss KOF (Nov.) After a weak first half of 2017, Switzerland’s economic recovery strengthened in Q3. And the latest leading indicators provide hope that GDP growth will accelerate further in the coming quarters. 30th November 2017 · 1 min read
