Europe Data Response Euro-zone Unemployment (May), Final Manuf. PMI (Jun.) While the euro-zone unemployment rate was unchanged in May, survey indicators point to strong employment gains ahead. Nevertheless, the high degree of slack in some countries suggests that it will be... 3rd July 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Jun.) The Nordic and Swiss PMIs strengthened in June, pointing to faster manufacturing growth. The Swedish survey suggests that inflation will fall, probably reflecting energy effects. But we still expect... 3rd July 2017 · 1 min read
Europe Data Response Euro-zone Flash CPI (Jun.), German & French Sales (May) June’s fall in euro-zone consumer price inflation reflected energy effects. But with core inflation only edging up, the ECB will proceed cautiously in normalising policy. 30th June 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Jun.) June’s rebound in the Swiss KOF Economic Barometer leaves it consistent with a pickup in annual GDP growth to around 2%. But with inflation still very low, we expect the SNB to keep the stance of... 30th June 2017 · 1 min read
Europe Data Response German & Spanish Flash CPI (Jun.) June’s rise in German HICP inflation and a sharper fall in the Spanish rate suggest that euro-zone inflation probably edged down from May’s 1.4%. German core inflation is now rising, but underlying... 29th June 2017 · 1 min read
Europe Data Response EC Business & Consumer Survey (Jun.) June’s EC business and consumer surveys point to a sharp acceleration of euro-zone growth, which will increase speculation about ECB asset purchase tapering to come and add to upward pressure on the... 29th June 2017 · 1 min read
Europe Data Response German Ifo Survey (Jun.) June’s German Ifo survey suggests that GDP growth will accelerate sharply in the months ahead. While growth is unlikely to match the pace implied by this survey, we see the German economy... 26th June 2017 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jun.) Although the euro-zone Composite PMI fell in June, it still suggests that the economic recovery continued at a healthy pace in Q2. But the small falls in the survey’s forward-looking components... 23rd June 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (Jun) The Swedish Economic Tendency Indicator points to strong and broad-based growth, consistent with an acceleration in wage growth and a pick-up in underlying inflation. 21st June 2017 · 1 min read
Nordic & Swiss Data Response Swedish & Finnish Labour Force Surveys (May) Swedish employment growth seems set to slow but the unemployment rate should nevertheless drift lower this year after being unchanged in May. And with over one third of firms suffering from a shortage... 20th June 2017 · 1 min read
Europe Data Response Euro-zone Trade (Apr.) The euro-zone’s goods trade surplus narrowed a touch in April, but the outlook for exports is encouraging. We think that net trade will provide a small boost to GDP growth in 2017. 15th June 2017 · 1 min read
Europe Data Response Euro-zone Industrial Prod. (Apr.) & Employment (Q1) Euro-zone industry began Q2 on a positive note with a healthy rise in production in April and surveys point to an acceleration to come. Meanwhile, the region’s labour market recovery continued, with... 14th June 2017 · 1 min read
Europe Data Response German ZEW Survey (Jun.) June’s fall in the German ZEW investor sentiment index was a slight disappointment. But investors still expect economic conditions to improve over the next six months and the more reliable business... 13th June 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (May) Underlying inflation was stronger than expected in May and domestic inflation should rise further from its 63-month high. As this will help to offset any disinflationary impact from a stronger krona... 13th June 2017 · 1 min read
Europe Data Response French Industrial Production & German Trade (Apr.) April’s sharp fall in French industrial production was disappointing in the wake of yesterday’s poor trade data and dims hopes for a strong pick-up in GDP growth in Q2. But German data continue to be... 9th June 2017 · 1 min read
Nordic & Swiss Data Response Norwegian Consumer Prices (May) Norwegian inflation resumed its decline in May, and we think that the fall has further to run. So we still forecast one interest rate cut by the Norges Bank later this year. 9th June 2017 · 1 min read