Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Oct.) The sharp decline in inflation over the past 15 months has largely run its course, but it is unlikely to rebound strongly. We think that core inflation will remain well below the Norges Bank’s 2.5%... 10th November 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Oct.) & Swedish Production Index. (Sep.) October’s weak Swiss inflation data support our view that SNB interest rate hikes are a very distant prospect. Elsewhere, Swedish production data suggest that quarterly GDP growth slowed in Q3. 6th November 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Oct.) October’s Swiss, Swedish and Norwegian manufacturing PMIs are consistent with strong growth in industrial output. But only in Sweden do we expect this to put sustained upward pressure on inflation. 1st November 2017 · 1 min read
Nordic & Swiss Data Response Sweden Econ. Tend. Survey (Oct.) & Retail Sales (Sep.) While the Swedish Economic Tendency Indicator edged down in October, the sharp rise in the consumer confidence index means that the survey now paints a more balanced picture of the economy. And with... 27th October 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Sep.) Inflation remained above the Riksbank’s target in September and, with the economy performing strongly, domestic price pressures will continue to build. We therefore expect the Riksbank to start... 12th October 2017 · 1 min read
Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Sep.) While Norwegian inflation picked up in September, domestic price pressures remain subdued and inflation is unlikely to meet the Norges Bank’s target any time soon. We therefore think that interest... 10th October 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Sep.) & Swedish Industrial Prod. (Aug.) The rise in Swiss headline inflation in September will be welcomed by the Swiss National Bank, but subdued price pressures mean we expect the SNB to keep rates on hold until 2020. Elsewhere, Swedish... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Sep.) September’s Swiss and Swedish manufacturing PMIs both rose to high levels. But while fairly strong growth is unlikely to push inflation up in Switzerland, price pressures are mounting in Sweden. 2nd October 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF (Sep.) & Danish GDP (Q2, 2nd estimate) September’s rebound in the Swiss KOF Economic Barometer leaves it consistent with a pick-up in annual GDP growth to around 2%. But the KOF has overstated growth recently and, in any case, inflation... 29th September 2017 · 1 min read
Nordic & Swiss Data Response Sweden Economic Tendency Survey (Sep.) In September a sharp rise in manufacturing sentiment drove the Swedish Economic Tendency Indicator to its highest since 2011. With the growth outlook strong and inflation expectations rebounding, we... 27th September 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Aug.) Inflation was above both the Riksbank’s forecast and its target in August. With the strengthening economy suggesting that inflationary pressure is building, we think that the Riksbank will soon start... 12th September 2017 · 1 min read
Nordic & Swiss Data Response Norwegian Consumer Prices (Aug.) In August, inflation in Norway fell further below the Norges Bank’s target. While inflation should stop falling by the end of the year, it will rebound only slowly. So interest rate hikes are a very... 11th September 2017 · 1 min read
Nordic & Swiss Data Response Iceland GDP (Q2) Iceland’s second consecutive quarterly fall in GDP was down to the volatility of trade. While the trade balance appears to be declining a bit faster than we expected as a result of the strong króna... 8th September 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Jul.) A large gain in services output offset a fall in industrial production in July and suggests that overall the Swedish economy started Q3 on a fairly strong note. While the PMI surveys point to slower... 6th September 2017 · 1 min read
Nordic & Swiss Data Response Swiss GDP (Q2) & Consumer Prices (Aug.) Switzerland’s Q2 GDP release confirmed that the economy expanded only very slowly in the first half of the year. While survey indicators suggest that growth will pick up, subdued inflation will keep... 5th September 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Aug.) & Finnish GDP (Q2) August’s manufacturing PMIs pointed to continued recoveries in Switzerland and Norway, but the Swedish index weakened significantly. That said, with other indicators suggesting that the Swedish... 1st September 2017 · 1 min read
