Nordic & Swiss Data Response Switzerland KOF Economic Barometer (July) While the flare-up in cases in Europe is a key downside risk, the sharp increase in the KOF Economic Barometer in July suggests that the Swiss economy continued to bounce back at the start of Q3. 30th July 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Jun.) The lack of price pressures in Switzerland is nothing new, but will ensure that the SNB remains poised to combat bouts of upward pressure on the franc for the foreseeable future. 2nd July 2020 · 2 mins read
Nordic & Swiss Data Response Manufacturing PMIs (Jun.) The manufacturing PMIs from June add to the evidence that activity in Sweden and Norway has recovered comparatively quickly, but suggest that Swiss manufacturing is taking longer to find its feet. 1st July 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland KOF (Jun.), Retail Sales (May) The underwhelming increase in the KOF Economic Barometer in June is at odds with the chunky rise in the euro-zone PMIs. Nonetheless, the surge in Swiss retail sales in May shows that the economy has... 30th June 2020 · 2 mins read
Nordic & Swiss Economics Weekly Nordic consumers making up for lost time The fact that retail sales volumes grew in year-on-year terms in the Nordic economies in May suggests that the Covid-related drops in consumption may end up being much smaller than we have assumed up... 26th June 2020 · 6 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Yield rises to reverse, except for retail The sharp reduction in economic activity over the first half of the year and prolonged uncertainty have negatively impacted investment activity and occupier demand. We expect this will flow through to... 26th June 2020 · 18 mins read
Nordic & Swiss Economics Weekly Revised forecasts; policy stasis; football is back! Amid increasing signs that the Nordic economies have weathered the Covid crisis better than most we have upgraded our forecasts for GDP growth, and expect some clear daylight between growth in Sweden... 19th June 2020 · 4 mins read
Nordic & Swiss Economics Update SNB & Norges Bank to maintain the status quo This morning’s decisions by the SNB and the Norges Bank to leave interest rates on hold at -0.75% and zero respectively were never really in doubt. Both banks are set to leave policy unchanged... 18th June 2020 · 3 mins read
Nordic & Swiss Chart Pack Nordic economies closer to ‘normal’ than most The latest high frequency data indicate that economic activity in the Nordic economies has continued to recover in recent weeks, with trips to shops and restaurants now close to pre-crisis levels in... 12th June 2020 · 5 mins read
Nordic & Swiss Economics Weekly Sweden is weathering Covid comparatively well The 11% peak-to-trough drop in Swedish household consumption between February and April puts paid to any notion that Sweden has escaped unscathed following its light-touch lockdown. Nonetheless, the... 12th June 2020 · 4 mins read
Nordic & Swiss Central Bank Watch Brace yourself for two boring policy meetings The Swiss National Bank and the Norges Bank are all but certain to leave their policy settings unchanged at the scheduled announcements next Thursday (18th June) and for the foreseeable future. 11th June 2020 · 6 mins read
Nordic & Swiss Economics Weekly SNB gets the chance to regroup; Norway picking up The positive policy moves out of Europe have weighed on the Swiss franc and has ratcheted down the pressure on the SNB. Meanwhile, Norway’s economy appears to have clawed back about half of what was... 5th June 2020 · 6 mins read
Nordic & Swiss Data Response Switz. CPI (May), Sweden Priv. Sector Prod. (Apr.) The further decline in Swiss inflation in May came as no surprise, but April’s private sector production data from Sweden add to signs that the economy has reaped some benefit from its light-touch... 4th June 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland GDP (Q1) The sharp fall in Swiss GDP is Q1 was in line with the general pattern seen in other countries, and Q2 is set to be much worse. However, now that lockdown restrictions have been eased, we suspect that... 3rd June 2020 · 3 mins read
Nordic & Swiss Data Response Manufacturing PMIs (May) The partial recoveries in the manufacturing PMIs in May offer encouragement that activity is recovering now that lockdowns have been eased. 2nd June 2020 · 2 mins read
Nordic & Swiss Economics Weekly Repo rate cut in the pipeline The fact that the Swedish economy grew a touch in Q1 adds to signs that the country has enjoyed some economic benefit from its light-touch lockdown. However, exports probably won’t save the day again... 29th May 2020 · 6 mins read
