Nordic & Swiss Data Response Sweden Consumer Prices (Apr.) While the Riksbank will look through the energy-driven plunge in headline inflation in April, the further fall in underlying price pressures will be harder to ignore. All told, while policymakers’... 13th May 2020 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Apr.) The food-driven jump in the core inflation rate in Norway in April will not trouble the Norges Bank. With the economy facing a slow recovery, a prolonged period of record low interest rates is on the... 11th May 2020 · 2 mins read
Nordic & Swiss Data Response Sweden GDP (Q1) & Switzerland CPI (Apr.) The comparatively small fall in Swedish GDP in Q1 appears to owe as much to a strong January and February as Sweden’s lighter-touch lockdown. Accordingly, today’s data underplay the scale of the... 5th May 2020 · 2 mins read
Nordic & Swiss Data Response Manufacturing PMIs (Apr.) While Sweden’s less stringent lockdown has received a lot of attention, today’s data add to the evidence that economic activity there has not fared much better than elsewhere in Europe. 4th May 2020 · 2 mins read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Apr.) Despite registering its largest monthly fall on record in April, the KOF Economic Barometer appears to underplay the havoc that has been wreaked on the Swiss economy. While the government has begun to... 30th April 2020 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices & Reg. Unemp. (Mar.) While the decline in headline inflation in Sweden in March owed much to lower energy prices, persistently below-target core price pressures and the virus-related economic slump opens the door to... 15th April 2020 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Mar.) While core inflation in Norway remained slightly above policymakers’ target in March, the precipitous plunge in economic activity raises the chance that Norway will join the sub-zero interest rate... 8th April 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Mar.) Having fallen further into negative territory in March, Swiss inflation is likely to remain below zero for the rest of 2020. This will strengthen policymakers’ resolve to prevent the franc from rising... 2nd April 2020 · 2 mins read
Nordic & Swiss Data Response Manufacturing PMIs (Mar.) The eye-watering declines in the manufacturing PMIs for March from Switzerland and the Nordics simply confirm that economic activity has dropped off a cliff following the introduction of containment... 1st April 2020 · 2 mins read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Mar.) While the Swiss KOF Economic Barometer registered its biggest monthly decline in five years in March, the fact that many of the responses to the survey component of the indicator predated the... 30th March 2020 · 2 mins read
Nordic & Swiss Data Response Sweden Economic Tendency Indicator (Mar.) The broad-based drop in Sweden’s Economic Tendency Indicator in March is consistent with the economy contracting by about 0.5-1.0% in Q1. Unfortunately, much worse is set to come in Q2. 26th March 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI & Sweden Services PMI (Feb.) The return of deflation to Switzerland in February will only strengthen the policymakers’ resolve to prevent the franc from rising much further. Following yesterday’s emergency rate cut by the Fed... 4th March 2020 · 2 mins read
Nordic & Swiss Data Response Manufacturing PMIs (Feb.) The increases in the manufacturing PMIs in February in Switzerland and the Nordics suggest that conditions in the industrial sector were improving before the surge in coronavirus cases in Europe... 2nd March 2020 · 2 mins read
Nordic & Swiss Data Response Sweden, Finland & Denmark GDP (Q4), Swiss KOF (Feb.) The Swedish economy ended last year on the back foot, and a combination of the rising threat from the coronavirus, weak growth in the neighbouring euro-zone, and persistently below-target inflation... 28th February 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland Industrial Production (Q4 2019) While pharmaceuticals output supported Swiss manufacturing again in Q4, conditions in the rest of the sector weakened at the end of last year. With the German industrial recession likely to drag on... 20th February 2020 · 2 mins read
Nordic & Swiss Data Response Swedish Consumer Prices (Jan.) The sharper-than-expected fall in Swedish inflation in January may test the Riksbank’s resolve to keep policy unchanged. With subdued GDP growth likely to weigh on underlying inflation this year, we... 19th February 2020 · 2 mins read
