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
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
Nordic & Swiss Economics Weekly Norway rips up the fiscal rule book Having endured a bruising few months, the risks to the Norwegian krone now appear to be on the upside, not least given that the government plans to spend a greater proportion of the pension fund this... 15th May 2020 · 4 mins read
Nordic & Swiss Chart Pack Denmark ahead on the long road back to normality The estimates of Q1 GDP that have been released so far have been subject to all manner of health warnings and are liable to be revised, potentially significantly, over the coming quarters. Nonetheless... 14th May 2020 · 5 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 Economics Weekly External demand to constrain Sweden’s recovery While there are welcome signs that Sweden has reaped some benefits from its light-touch lockdown, the economy will be constrained by the recovery in the rest of the continent given its dependence on... 7th May 2020 · 6 mins read
Nordic & Swiss Economics Update Norges Bank sets a floor at zero This morning’s 25bp rate cut by the Norges Bank, to a fresh record low of zero, took the consensus by surprise, but was in line with our forecast. That said, the Bank gave a strong signal that it has... 7th May 2020 · 3 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 Economics Weekly Surveys at their limits; Norges Bank to cut to zero While the KOF Economic Barometer registered its largest monthly fall on record in April, like many other indicators elsewhere, it is struggling to capture the unprecedented scale of damage wreaked by... 1st May 2020 · 6 mins read
Nordic & Swiss Central Bank Watch Norges Bank set to continue its easing cycle next week Given the toxic combination of Covid-related disruption and precipitous plunge in oil prices, we think that the Norges Bank’s easing cycle has further to run. Whereas financial markets are pricing in... 1st May 2020 · 5 mins read
Nordic & Swiss Economics Weekly Norges Bank heading for negative territory While the 1.9% q/q plunge in mainland GDP in Norway in Q1 was slightly smaller than the record seen in 2008, it is an eye-watering decline given that the lockdown did not really begin until 12th March... 24th April 2020 · 5 mins read
Nordic & Swiss Economic Outlook Comparatively well placed to weather the carnage Low levels of government debt mean that Switzerland and the Nordic economies are comparatively well placed to withstand the acute stresses being placed on the public finances – particularly compared... 21st April 2020 · 16 mins read
Nordic & Swiss Economics Weekly The gradual process of reopening begins While activity in the Swiss economy has fallen off a cliff, the stereotypical efficiency with which loans have been channelled to businesses means that the country is well placed to recover. Next week... 17th April 2020 · 4 mins read
Nordic & Swiss Economics Weekly The Ides of March do it again The ramp-up in containment measures in mid-March dealt a huge blow to the Norwegian economy. While restrictions will start to be lifted slowly later this month, we think that it is increasingly likely... 9th April 2020 · 5 mins read
Nordic & Swiss Chart Pack Scale of the economic carnage is becoming apparent The scale of the economic damage in Switzerland and the Nordics following the imposition of draconian virus-related containment measures is becoming all too apparent. Business surveys have plunged... 8th April 2020 · 5 mins read
