Europe Data Response Euro-zone Flash PMIs (Aug.) August’s small rise in the euro-zone Composite PMI suggests that economic growth maintained its pace in Q3. With the recovery healthy, we think that the ECB will proceed with tapering its asset... 23rd August 2017 · 1 min read
Europe Data Response German ZEW Survey (Aug.) August’s fall in German investor sentiment probably reflects the euro’s continued rise and recent falls in equity prices. But we do not think that it is a sign of an economic slowdown to come. 22nd August 2017 · 1 min read
Europe Data Response Euro-zone, Italy & Netherlands GDP (Q2, Flash) The second estimate of euro-zone Q2 GDP confirmed that the recovery gathered pace. And with surveys suggesting that the economy continued to expand at a healthy rate at the start of Q3, the outlook... 16th August 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Jul.) & Finnish GDP (Q2) July’s jump in Swedish inflation is partly due to a methodological change in the way that package holiday prices are tracked. Yet even excluding this effect, underlying inflation has picked up and... 15th August 2017 · 1 min read
Europe Data Response German GDP (Q2) The German economy put in a strong performance in the first half of the year. While growth in Q2 was slightly slower than expected, meaning that euro-zone GDP growth might be revised down, surveys... 15th August 2017 · 1 min read
Europe Data Response Euro-zone Industrial Production (Jun.) Despite June’s decline in euro-zone industrial production, the sector’s contribution to GDP growth probably picked up in Q2. And surveys suggest that industry put in a decent performance at the start... 14th August 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Jun.) The Swedish industrial and services sectors have been performing well of late and the outlook is positive. With the Swedish economy firing on all cylinders, it won’t be long until the Riksbank changes... 10th August 2017 · 1 min read
Europe Data Response French Industrial Production (Jun.) Although French industrial production fell sharply in June, the sector fared better in Q2 than it did in Q1. And the continued strength of the surveys suggests that June’s decline does not mark the... 10th August 2017 · 1 min read
Nordic & Swiss Data Response Norwegian & Danish Consumer Prices (Jul.) Inflation in Norway continued on its downward trend in July, and it is likely to fall a little further over the rest of the year. We think that it will remain well below target over the next few years... 10th August 2017 · 1 min read
Europe Data Response German & French Trade (Jun.) Although German and French exporters struggled in June, the outlook for trade in both countries remains fairly bright amid strong growth in global demand and, despite its recent appreciation, the... 8th August 2017 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Jul.) The Swiss National Bank (SNB) will be disappointed that July’s small rise in core inflation was driven by imported rather than domestically-produced products. As inflation expectations are consistent... 7th August 2017 · 1 min read
Europe Data Response German Industrial Production (Jun.) Despite the decline in German industrial production in June, the sector performed well in Q2 as a whole. So we still think that the German economy gathered pace in the second quarter. And surveys... 7th August 2017 · 1 min read
Europe Data Response Euro-zone Retail Sales (Jun.) & Final PMIs (Jul.) June’s rise in euro-zone retail sales capped a strong quarter and suggests that household spending growth picked up in Q2. Although July’s final euro-zone Composite PMI implies that broader economic... 3rd August 2017 · 1 min read
Europe Data Response Euro-zone GDP (Q2 Preliminary Flash) Euro-zone GDP in the first half of the year was a little weaker than expected. But the Q2 outturn may yet be revised up, and with surveys pointing to continued fairly strong growth at the start of Q3... 1st August 2017 · 1 min read
Nordic & Swiss Data Response Swedish & Norwegian Manufacturing PMIs (Jul.) July’s Swedish and Norwegian manufacturing PMIs point to a continued pick-up in industrial output growth in both countries. But the Swedish survey’s price index implies some downside risks to... 1st August 2017 · 1 min read
Europe Data Response Euro-zone Unemployment (Jun.) & Flash CPI (Jul.) While June’s unemployment data painted a positive picture of the euro-zone labour market, July’s CPI release confirmed that this strength is putting only modest upward pressure on underlying inflation... 31st July 2017 · 1 min read
