Nordic & Swiss Data Response Norway & Denmark Consumer Prices (Jul.) The lagged impact of exchange rate movements will ensure that inflation remains above the Norges Bank’s target throughout the second half of this year. However, this effect will fade in early-2021 and... 10th August 2020 · 2 mins read
Nordic & Swiss Economics Weekly Swedish experience dashes hopes of rapid recoveries The fact that the contraction in Swedish GDP in Q2 was smaller than elsewhere in Europe understandably took the headlines this week. However, Sweden’s experience still demonstrates the extent to which... 7th August 2020 · 6 mins read
Nordic & Swiss Data Response Switzerland CPI (July), Manufacturing PMIs (July) Inflation in Switzerland now appears to have troughed, but it is set to remain frustratingly weak over the coming years and a headache for the SNB. Meanwhile, the manufacturing PMIs from July suggest... 3rd August 2020 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Jun.) Previous falls in the krone will ensure that inflation stays above the Norges Bank’s target throughout H2. Nonetheless, this effect will fade in early-2021 and policymakers will be in no rush to raise... 10th July 2020 · 2 mins read
Nordic & Swiss Economics Update Norway experiencing a shallow “U” The pick-up in mainland Norwegian GDP in May was a tad underwhelming, with the economy’s recovery now seeming to follow a shallow “U” rather than the deep “V” seen in the euro-zone. Nonetheless, the... 8th July 2020 · 3 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
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 Norway Consumer Prices (May) Recent falls in the krone contributed to the pick-up in core inflation in Norway in May, but this effect is likely to fade in H2. Accordingly, the Norges Bank will be in no rush to tighten monetary... 10th June 2020 · 2 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 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
