While the improvements in the latest surveys from Sweden and Switzerland offer some encouragement that the two economies gathered a bit of momentum at the start of 2020, they are already old news given that they predate the surge in coronavirus cases in Europe. Virus-related developments will continue to dominate proceedings next week and mean that the incoming data are of limited use. For what it’s worth, we expect to learn that the Swiss economy lost momentum at the end of last year and that inflation fell back into negative territory in February.
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