Europe Data Response German Flash CPI (Jan.) January’s rise in German consumer price inflation to 1.9% reflected energy effects while core inflation remained subdued. Price pressures are weaker elsewhere in the euro-zone and there is still... 30th January 2017 · 1 min read
Europe Data Response EC Business & Consumer Survey (Jan.) January’s rise in the European Commission’s Economic Sentiment Indicator (ESI) to a 70-month high suggests that the euro-zone economy started 2017 on a positive note. 30th January 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (Jan.) & Retail Sales (Dec.) Despite falling in January, the Swedish Economic Tendency Indicator is consistent with an acceleration in annual GDP growth to about 6%. As such, underlying price pressures should pick up and the... 27th January 2017 · 1 min read
Nordic & Swiss Data Response Sweden (Dec.) & Norway (Nov.) Labour Market Data December’s labour market data suggest that wage pressures are building in Sweden, supporting our view that the Riksbank will tighten policy this year. But in Norway, despite November’s fall in... 26th January 2017 · 1 min read
Europe Data Response German Ifo Survey (Jan.) January’s fall in the German Ifo survey suggests that the economy has lost some of the strong momentum seen at the end of last year. And while the weak euro exchange rate should boost exports in the... 25th January 2017 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jan.) Despite January’s fall, the euro-zone PMI suggests that the economy continued to expand at a steady pace at the start of 2017. But the survey still points to a lack of inflationary pressure, which... 24th January 2017 · 1 min read
Nordic & Swiss Data Response Swiss Producer & Import Prices (Dec.) December’s rise in Swiss producer and import price inflation does not change our view that headline consumer price inflation will be barely positive in the medium term. Accordingly, monetary policy... 19th January 2017 · 1 min read
Europe Data Response German ZEW Survey (Jan.) & E-Z Bank Lending Survey (Q4) January’s rise in ZEW investor sentiment showed that optimism about the German economy is gradually returning. The ECB’s Q4 Bank Lending Survey revealed a further pick-up in demand for loans, but... 17th January 2017 · 1 min read
Europe Data Response Euro-zone Trade (Nov.) The euro-zone’s goods trade surplus widened in November, but over Q4 as a whole it was probably broadly unchanged from Q3. Looking ahead, export growth might pick up, but we doubt that it will be... 16th January 2017 · 1 min read
Europe Data Response Euro-zone Industrial Production (Nov.) November’s rise in euro-zone industrial production added to the evidence that GDP growth picked up in Q4. But while industrial growth might accelerate further in the near term, this is unlikely to... 12th January 2017 · 1 min read
Nordic & Swiss Data Response Norwegian Consumer Prices (Dec.) In December, the Norges Bank’s favoured measure of inflation edged down to a 19- month low. We think that it will fall further, prompting the Bank to cut its key policy rate by 25 basis points in the... 10th January 2017 · 1 min read
Europe Data Response Euro-zone Unemployment (Nov.) November’s euro-zone unemployment data reaffirm our view that the labour market is experiencing only a gradual recovery. Indeed, the unemployment rate is still high, while survey indicators point to... 9th January 2017 · 1 min read
Europe Data Response German Industrial Production & Trade (Nov.) November’s rise in German industrial production suggests that industry had a decent quarter in Q4. And with trade data also painting a positive picture of the economy, it seems likely that GDP growth... 9th January 2017 · 1 min read
Europe Data Response EC Business & Consumer Survey (Dec.) & Retail Sales (Nov) December’s rise in the European Commission’s euro-zone Economic Sentiment Indicator (ESI) left it at its highest level since March 2011, thus supporting the message from the PMIs that GDP growth... 6th January 2017 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Dec.) In December, Swiss headline inflation exited negative territory for the first time in two years, but core inflation remained below zero. So the latest data will do little to ease fears that the... 5th January 2017 · 1 min read
Europe Data Response Euro-zone Flash CPI & Final PMIs (Dec.) December’s rise in euro-zone inflation mainly reflected anticipated energy effects and will therefore not deter the ECB from its commitment to sustained policy loosening. 4th January 2017 · 1 min read
