Europe Data Response Euro-zone Unemployment (Mar.), Final Man. PMI (Apr.) March’s small fall in the level of euro-zone unemployment came as something of a disappointment and suggests that, despite the growing strength of the economy, wage growth will remain subdued and keep... 2nd May 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Apr.) The PMIs weakened in April, but still point to faster manufacturing growth. And the Swedish survey suggests that inflation there will rise, supporting our view that the Riksbank erred in extending its... 2nd May 2017 · 1 min read
Europe Data Response Euro-zone Flash CPI (Apr.) April’s rise in euro-zone HICP inflation put it back in line with the ECB’s target, but the rise reflected the timing of Easter and we doubt that it will lead the Bank to alter its view that... 28th April 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Apr.) April’s fall in the Swiss KOF Economic Barometer leaves it still pointing to a pick-up in annual GDP growth to around 2%. But with inflation extremely low and given signs that the strong franc is... 28th April 2017 · 1 min read
Europe Data Response France, Spain & Austria GDP (Q1, 1st est.) Provisional Q1 GDP data for France, Spain and Austria suggest that euro-zone economic growth accelerated at the start of 2017. And the slower growth in France in Q1 should prove temporary. 28th April 2017 · 1 min read
Europe Data Response German & Spanish CPI (Apr.) April’s increases in harmonised CPI inflation in Germany and Spain suggest that the euro-zone rate rose back to the ECB’s target of close to 2%. But the increase partly reflected the timing of Easter... 27th April 2017 · 1 min read
Europe Data Response EC Business & Consumer Survey (Apr.) The EC Economic Sentiment Indicator suggests that euro-zone growth accelerated further at the start of Q2. But with consumers’ inflation expectations falling back, we do not expect the ECB to signal... 27th April 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (Apr.) The sharp jump in the Swedish Economic Tendency Indicator is consistent with our view that in tomorrow’s monetary policy announcement the Riksbank will signal an end to its asset purchases programme... 26th April 2017 · 1 min read
Europe Data Response German Ifo Survey (Apr.) April’s further rise in the German Ifo contrasted with the fall in the PMI in the same month, but both surveys point to very strong growth in the euro-zone’s largest economy. 24th April 2017 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Apr.) April’s rise in the euro-zone composite PMI added to evidence that the economy is faring very well, pointing to strong GDP growth of up to 0.7% per quarter. 21st April 2017 · 1 min read
Europe Data Response Euro-zone Trade (Feb.) & Inflation (Final, Mar.) The euro-zone goods trade surplus rose in February but probably narrowed in Q1 as a whole. With higher energy prices explaining much of that narrowing, trade volumes may still have boosted GDP in Q1... 19th April 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Mar.) March’s fall in inflation was partly due to temporary effects and inflation should rise in April. As there is now an increasing risk that inflation will overshoot the Riksbank’s target, later this... 12th April 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Mar.) March’s fall in inflation was partly due to temporary effects and inflation should rise in April. As there is now an increasing risk that inflation will overshoot the Riksbank’s target, later this... 11th April 2017 · 1 min read
Europe Data Response Euro-zone Industrial Prod. (Feb.) & German ZEW (Apr.) February’s small fall in euro-zone industrial production suggests that the sector had a weak Q1, but the slowdown should have been offset by stronger growth in other sectors. What’s more, the... 11th April 2017 · 1 min read
Nordic & Swiss Data Response Norwegian & Danish Consumer Prices (Mar.) March’s small rise in the Norges Bank’s preferred measure of inflation was probably just a blip. Indeed, we think that inflation will fall to about 1.0% later this year, prompting the central bank to... 10th April 2017 · 1 min read
Europe Data Response German & French Industrial Production (Feb.) February’s sharp rise in German industrial production and wider trade surplus help to reconcile the recent gap between the hard data and surveys, and imply that GDP rose sharply in Q1. But the French... 7th April 2017 · 1 min read
