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
Europe Data Response Euro-zone GDP Expenditure Breakdown (Q1) The euro-zone economy grew in Q1 at a faster pace than previously indicated, despite a slowdown in consumer spending. And with activity surveys pointing to a pick-up in GDP growth in Q2, the euro-zone... 8th June 2017 · 1 min read
Europe Data Response German Industrial Production & French Trade (Apr.) April’s rise in German production is an encouraging sign that the industrial upturn is back on track, and surveys point to a sharp acceleration to come. 8th June 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Apr.) As April’s surprise drop in Swedish industrial production was probably due to temporary factors, we expect output to rebound in May. And while the hard data have been weaker than the surveys suggested... 7th June 2017 · 1 min read
Europe Data Response Euro-zone Retail Sales (Apr.) Retail sales made a subdued start to Q2, but May’s rise in consumer confidence to a 10-year high suggests that growth should pick. 6th June 2017 · 1 min read
Europe Data Response Euro-zone Final PMIs (May) May’s final Composite PMI points to a pick-up in euro-zone GDP growth in Q2. And this strength is broad based. While growth has remained strongest in Germany and Spain, recoveries in France and Italy... 5th June 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (May) The PMIs in Switzerland, Sweden and Norway weakened again in May, but still point to faster manufacturing growth. But the Danish PMI rebounded after April’s plunge. 1st June 2017 · 1 min read
Europe Data Response Italian GDP Breakdown (Q1) The upward revision to Italy’s GDP in Q1 is not as encouraging as it first appears. And with the chance of an early election rising, Italy’s already-weak economy looks vulnerable to the rise of euro... 1st June 2017 · 1 min read
Nordic & Swiss Data Response Swiss & Finnish GDP (Q1) Switzerland’s economic recovery gained pace in Q1 and business surveys suggest that this momentum will continue. But with inflation set to remain very subdued, we think that the SNB will keep policy... 1st June 2017 · 1 min read
Europe Data Response Euro-zone Flash CPI (May) & Unemployment (Apr.) May’s decline in euro-zone inflation to a five-month low does not change our view that the ECB will alter its forward guidance next week. 31st May 2017 · 1 min read
Nordic & Swiss Data Response Danish GDP (Q1) The Danish economy made a good start to 2017, posting another decent quarterly expansion in Q1. Although the composition of growth was not that encouraging, the outlook is more positive. 31st May 2017 · 1 min read
Europe Data Response German & Spanish Flash CPI (May) May’s declines in harmonised CPI inflation in Germany and Spain suggest that the euro-zone rate fell back from the ECB’s target of close to 2%. With core inflation subdued across the region, we doubt... 30th May 2017 · 1 min read
Europe Data Response EC Business & Consumer Survey (May) Despite softening in May, the EC’s business and consumer surveys suggest that eurozone economic growth picked up in Q2. But with inflation expectations falling back, there is little indication that... 30th May 2017 · 1 min read
Nordic & Swiss Data Response Swedish GDP (Q1), Retail Sales (Apr) & Swiss KOF (May) The slowdown in Swedish quarterly GDP growth in Q1 masked a strong rise in domestic demand. And with April’s pick-up in retail sales boding well for growth in Q2, underlying inflation should continue... 30th May 2017 · 1 min read
Europe Data Response Spanish GDP Breakdown (Q1) The second release of Spanish GDP confirmed that quarterly growth edged up in Q1 despite a slowdown in consumer spending. While we expect growth to slow in the coming quarters, Spain is still set to... 25th May 2017 · 1 min read
