Nordic & Swiss Data Response Iceland GDP (Q1 16) Iceland’s second consecutive quarterly fall in GDP was down to the volatility of trade. The big picture is that domestic demand growth picked up and the outlook is positive. 7th June 2016 · 1 min read
Europe Data Response Euro-zone Retail Sales (Apr.) & Final PMIs (May.) April’s euro-zone retail sales data suggest that strong consumer spending growth in Q1 is unlikely to be repeated in Q2, and thus that GDP growth will slow. Indeed, May’s final Composite PMI also... 3rd June 2016 · 1 min read
Europe Data Response Euro-zone Flash CPI (May) & Unemployment (Apr.) The latest figures on euro-zone inflation and unemployment maintained the picture of subdued price pressures across the region. 31st May 2016 · 1 min read
Europe Data Response Danish GDP (Q1) The pick-up in Danish GDP growth in Q1 is welcome news after weakness in the second half of 2015. But sluggish euro-zone growth will also weigh on Danish prospects, and survey measures paint a weak... 31st May 2016 · 1 min read
Nordic & Swiss Data Response Danish GDP (Q1 16) The pick-up in Danish GDP growth in Q1 is welcome news after weakness in the second half of 2015. But sluggish euro-zone growth will also weigh on Danish prospects, and survey measures paint a weak... 31st May 2016 · 1 min read
Europe Data Response German Ifo Survey (May) May’s rise in the German Ifo suggests that the economy has continued to grow at pretty healthy rates, but the fast quarterly pace seen in Q1 will not be sustained. 25th May 2016 · 1 min read
Europe Data Response German ZEW Survey (May) & GDP Breakdown (Q1) The second German GDP release for Q1 confirmed that stronger domestic spending drove a sharp pick-up in overall activity. But May’s fall in German ZEW investor sentiment supports our view that growth... 24th May 2016 · 1 min read
Europe Data Response Euro-zone Flash PMIs (May) The euro-zone Composite PMI edged down in May despite rises in Germany and France, suggesting that growth in the rest of the euro-zone lost momentum. And with new export orders falling to a 16-month... 23rd May 2016 · 1 min read
Europe Data Response Euro-zone Trade (Mar.) While the euro-zone trade surplus widened in March, this reflected a drop in the value of imports rather than export strength. Subdued global demand growth and the recent appreciation of the euro... 17th May 2016 · 1 min read
Europe Data Response Euro-zone GDP (Q1 Prov.) While Q1’s 0.5% quarterly gain in euro-zone GDP provides a reasonably solid start to the year, there are good reasons to expect growth to slow in Q2 and beyond. 13th May 2016 · 1 min read
Europe Data Response Euro-zone Industrial Production (Mar.) March’s contraction means that industry looks likely to have accounted for about 0.2%-points of the euro-zone’s 0.6% q/q GDP growth rate in Q1. But the underlying trend in output is weak, and surveys... 12th May 2016 · 1 min read
Europe Data Response German Industrial Production (Mar.) Despite March’s sharp fall in German industrial production, the sector appears to have contributed strongly to GDP growth in Q1. However, evidence from the business surveys suggests that underlying... 10th May 2016 · 1 min read
Europe Data Response Euro-zone Retail Sales (Mar.) & Final PMIs (Apr.) March’s euro-zone retail sales data appear to confirm that strong consumer spending supported growth in Q1, but we doubt that this will be sustained. Indeed, April’s Composite PMI points to a slight... 4th May 2016 · 1 min read
Europe Data Response Euro-zone Preliminary Flash GDP (Q1) & Flash CPI (Apr.) The euro-zone’s new earlier (“preliminary flash”) estimate of GDP confirmed the message from country data that the economy regained some pace in Q1 after the slowdown in H2 last year. But growth is... 29th April 2016 · 1 min read
Europe Data Response German Flash CPI (Apr.) April’s fall in German consumer price inflation back to negative territory and the continued weakness of the core rate will further raise the pressure on the ECB to do more to hit its inflation target... 28th April 2016 · 1 min read
Europe Data Response EC Business & Consumer Survey (Apr.) April’s rise in euro-zone business and consumer confidence does not change the bigger picture that growth in the euro-zone appears to be slowing. 28th April 2016 · 1 min read
