Nordic & Swiss Data Response Norwegian Consumer Prices (Feb.) February’s inflation data revealed that inflation is falling much more quickly than the Norges Bank expected. While activity surveys have strengthened recently, we think that inflation will continue... 10th March 2017 · 1 min read
Europe Data Response German & Spanish Industrial Production, French Trade (Jan.) January’s rise in German industrial production reversed December’s fall and provided a solid start to Q1. But so far, hard data on Germany and elsewhere in the euro-zone suggest that growth will not... 8th March 2017 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Feb.) Switzerland’s consumer prices data for February revealed that prices are finally rising again. But with the franc likely to strengthen this year, underlying price pressures are set to remain subdued. 8th March 2017 · 1 min read
Europe Data Response Euro-zone GDP Expenditure Breakdown (Q4) The final estimate of euro-zone GDP in Q4 showed that growth was driven mainly by household spending. But with rising energy inflation now weighing on households’ real income growth, we expect the... 7th March 2017 · 1 min read
Europe Data Response Greece GDP (Q4) Q4’s sharper-than-anticipated drop in Greek GDP is clearly very bad news. While Prime Minister Tsipras claims that the economy is now poised to recover, the business surveys suggest otherwise. This... 6th March 2017 · 1 min read
Europe Data Response Italy GDP (Q4), Euro-zone Retail Sales (Jan.) & Final PMIs (Feb.) Retail sales fell again in January and quarterly growth is likely to be weak in Q1. While Italy’s economy slowed in Q4, the PMI points to a pick-up this quarter. 3rd March 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Jan.) Both industrial production and services output in Sweden rose at a decent pace in January. And with surveys pointing to further gains, the Swedish economy is set for another strong quarter in Q1 and... 3rd March 2017 · 1 min read
Europe Data Response Euro-zone Flash CPI (Feb.), PPI & Unemployment (Jan.) February’s rise in euro-zone inflation to the ECB’s 2% price stability ceiling reflected temporary energy and food effects. With core inflation set to remain subdued, we think that the ECB’s plans to... 2nd March 2017 · 1 min read
Nordic & Swiss Data Response Swiss GDP (Q4, 1st Estimate) The lacklustre expansion of Swiss GDP in Q4 suggests that the negative effects of deflation and the strong franc are still lingering. And with political risks in the euro-zone set to keep the franc... 2nd March 2017 · 1 min read
Europe Data Response German Flash CPI (Feb.) February’s rise in German consumer price inflation to 2.2% reflected food and energy effects. Core inflation remained subdued, implying that rising price pressures in the euro-zone’s largest economy... 1st March 2017 · 1 min read
Nordic & Swiss Data Response Finnish GDP (Q4) & National Manufacturing PMIs (Jan.) Activity surveys suggest that Q4’s slowdown in Finland will be short-lived. And February’s PMIs point to faster manufacturing growth in Switzerland, Sweden and Norway. They also imply that price... 1st March 2017 · 1 min read
Nordic & Swiss Data Response Swedish & Danish GDP (Q4) & Swedish Retail Sales (Jan.) Swedish growth picked up sharply in Q4, driven mainly by external demand. In Denmark, GDP growth was slower and is set to remain fairly subdued. 28th February 2017 · 1 min read
Europe Data Response EC Business & Consumer Survey (Feb.) February’s EC business and consumer survey suggests that political uncertainty has yet to damage euro-zone growth, which appears to have accelerated at the start of the year. 27th February 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (Feb.) Despite edging down in February, the NIER’s Economic Tendency Indicator still points to a surge in Swedish GDP growth. And with inflation expectations rising far above the Riksbank’s target, the Bank... 24th February 2017 · 1 min read
Europe Data Response German GDP (Q4) & Consumer Confidence (Mar.) The second release confirmed that German GDP was growing at a healthy pace at the end of last year, driven mainly by consumer spending. While business surveys suggest that growth will accelerate... 23rd February 2017 · 1 min read
Europe Data Response German Ifo Survey (Feb.) February’s renewed rise in the German Ifo Business Climate Indicator supported the message from the PMI that growth accelerated at the start of this year. 22nd February 2017 · 1 min read
