Europe Rapid Response Norway Consumer Prices (Aug.) Norway’s inflation rate came in broadly in line with the Norges Bank’s expectations in August, suggesting that policymakers will go ahead with their plan to raise rates from 4.0% to 4.25% next week... 11th September 2023 · 2 mins read
Europe Rapid Response Euro-zone GDP and Employment (Q2) The downward revision to the euro-zone’s second-quarter GDP data means the economy is now thought to have essentially flat-lined since the fourth quarter of last year. With business surveys having... 7th September 2023 · 2 mins read
Europe Rapid Response German Industrial Production (July) Aggregate German industrial output fell sharply again in July and the fall was even larger if the construction and energy sectors are excluded. We expect production to drop further in the rest of the... 7th September 2023 · 2 mins read
Europe Rapid Response Euro-zone Retail Sales (July 2023) Euro-zone retail sales fell in July and, in our view, will keep declining over the rest of the year as the effects of tighter monetary policy continue to feed through to consumers. 6th September 2023 · 2 mins read
Europe Rapid Response Euro-zone Final PMIs (August 2023) The final PMIs published today were revised down from the already-low levels reported in the flash measure two weeks ago. The Services Business Activity PMI slumped compared to July, and although the... 5th September 2023 · 2 mins read
Europe Rapid Response Swiss GDP (Q2.) Weak manufacturing and investment weighed on the Swiss economy in Q2, leaving GDP unchanged from the previous quarter. We think activity will be sluggish for the rest of the year as the effects of... 4th September 2023 · 2 mins read
Europe Rapid Response Swiss CPI (August.) Switzerland’s headline inflation rate was unchanged in August as a fall in core inflation was offset by the impact of rising fuel prices. This is the last inflation print before the SNB’s next meeting... 1st September 2023 · 2 mins read
Europe Rapid Response Euro-zone HICP (August) The small upside surprise to euro-zone headline inflation in August was entirely due to energy, while the core rate edged down. We don’t think these data will tip the balance of opinion at the ECB... 31st August 2023 · 3 mins read
Europe Rapid Response Germany and Spain HICP (August) August’s slightly higher-than-expected inflation rates in Germany and Spain mean euro-zone HICP inflation may not fall as far as we had anticipated (data due tomorrow) and marginally raise the chance... 30th August 2023 · 2 mins read
Europe Rapid Response EC Survey (August) The decline in the euro-zone’s Economic Sentiment Indicator (ESI) in August leaves it consistent on past form with GDP stagnating at best in Q3. And while the survey suggests that hiring intentions... 30th August 2023 · 2 mins read
Europe Rapid Response Germany GDP (Q2) and Ifo (Aug.) The fourth successive monthly decline in the Ifo Business Climate Index in August, following the slump in the PMIs earlier this week, strongly suggests that the German economy will contract again in... 25th August 2023 · 2 mins read
Europe Rapid Response Euro-zone Flash PMIs (August 2023) August’s flash PMIs were worse than expected, particularly in Germany, and are consistent with our view that the euro-zone economy will contract in the third quarter and that underlying price... 23rd August 2023 · 2 mins read
Europe Rapid Response Norges Bank Policy Announcement (August 2023) Norges Bank is very close to the end of its tightening cycle. After today’s 25bp hike, taking the deposit rate to 4%, we expect one final 25bp increase in September. We have then pencilled in a faster... 17th August 2023 · 2 mins read
Europe Rapid Response Euro-zone GDP (Q2 2023 2nd est.), Employment (Q2 2023) and Industrial Production (June) Despite euro-zone industrial production having increased in June on a monthly basis, it remained well below its Q1 average. And with demand having fallen sharply in recent months, we expect output to... 16th August 2023 · 2 mins read
Europe Rapid Response Sweden Consumer Prices (July) The unchanged readings for both headline inflation and the Riksbank’s target variable suggest that a further interest rate hike in September is highly likely. 15th August 2023 · 2 mins read
Europe Rapid Response Norway CPI (July) July’s decline in inflation in Norway was broadly in line with the central bank’s forecast. So Norges Bank is likely to go ahead with its planned 25bp rate hike next week. 10th August 2023 · 2 mins read
