Nordic & Swiss Economics Update Riksbank beefs up monetary stimulus The Riksbank has put its money where its mouth is when it comes to expanding its balance sheet, but in our view all roads still lead to a return to negative interest rates, either in late-2020 or... 1st July 2020 · 4 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 Central Bank Watch Riksbank set to keep its powder dry next week While we still expect the Riksbank to cut its repo rate back into negative territory later this year, it is set to keep its powder dry at its policy announcement next Wednesday (1st July). 24th June 2020 · 5 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 New (higher) forecast for Swedish GDP There are increasing signs that the Swedish economy has weathered the crisis better than we first feared. Accordingly, we now expect GDP to contract by ‘only’ 2.5% this year (previously -7.5%). 16th 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 Data Response Sweden Consumer Prices (May) The rise in Swedish inflation in May ties in with signs that the economy has got off comparatively lightly by virtue of its light-touch lockdown. That said, the May figure was skewed in part by... 11th June 2020 · 2 mins read
Europe Commercial Property Update Scandi offices to prove more resilient than euro-zone Timely activity indicators suggest that the Scandinavian economies are already on the gradual path to normality, which will provide support to occupier demand and, in turn, prime office rents this... 10th June 2020 · 3 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 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
Nordic & Swiss Economics Update Sweden comparatively well placed, but not unscathed While Sweden’s economy has fared better than the worst-affected countries, as a result of its comparatively light-touch lockdown, it is still set for a year to forget. We expect the decline in GDP... 28th May 2020 · 2 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Value slump on the way Despite the contraction in economic activity in Q1, property values in Scandinavia and Switzerland held broadly steady. However, in a large part this reflected uncertainty and low deal flow, which... 27th May 2020 · 5 mins read
Nordic & Swiss Economics Weekly “Personae non gratae” Swedes; Swiss franc falls The possibility of countries keeping their borders with Sweden closed given the higher prevalence of Covid-19 there underlines that the country is likely to see limited economic benefit from its light... 22nd May 2020 · 5 mins read
