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
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
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
Nordic & Swiss Data Response Norwegian Labour Force Survey (Dec.) December’s sharp decline in Norway’s unemployment rate was not as encouraging as it first appears. And while surveys suggest that employment growth will pick up, we suspect that wage growth will... 22nd February 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Jan.) The dip in Swedish inflation in January was mainly due to base effects and will be reversed in February. And with pay growth set to pick up after this year’s wage negotiations, underlying inflationary... 17th February 2017 · 1 min read
Nordic & Swiss Data Response Swiss Consumer, Producer & Import Prices (Jan.) Switzerland’s consumer and producer prices data for January provided some hope that the prolonged period of falling prices may finally be over. But with the franc likely to strengthen this year... 14th February 2017 · 1 min read
Nordic & Swiss Data Response Norwegian Consumer Prices (Jan.) In January, the Norges Bank’s favoured measure of inflation fell to a 37-month low. We think that it will fall further, prompting the Bank to cut its key policy rate by 25 basis points in the second... 10th February 2017 · 1 min read
Nordic & Swiss Data Response Norwegian GDP (Q4) Norway’s economic recovery picked up in Q4, and surveys suggest that growth might edge up further in the near term. This should add to the upward pressure on the krone as oil prices rise this year. 9th February 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Dec.) Both Swedish industrial production and services output growth picked up over Q4 and are thus consistent with a rise in GDP growth. Meanwhile, this morning’s services PMI is consistent with strong... 3rd February 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Jan.) January’s PMIs add to the evidence that the Swedish economy has made a strong start to the year. They also suggest that price pressures are building in Switzerland. 1st February 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
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
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
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
