Nordic & Swiss Economics Update Housing market concerns weigh on Swedish markets Concerns about the prospect of a house price correction were felt across Swedish markets in November, with the krona slumping, bond yields declining and equities falling. Most other Nordic and Swiss... 1st December 2017 · 1 min read
Nordic & Swiss Data Response Swiss & Danish GDP (Q3), Swiss KOF (Nov.) After a weak first half of 2017, Switzerland’s economic recovery strengthened in Q3. And the latest leading indicators provide hope that GDP growth will accelerate further in the coming quarters. 30th November 2017 · 1 min read
Nordic & Swiss Chart Pack Nordic house price inflation slowing House price inflation in several Nordic economies is slowing, and in some cases sharply. In Sweden housing inflation fell to 6.7% in October, its slowest in four years. And in Stockholm, where prices... 16th November 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Oct.) & Swedish Production Index. (Sep.) October’s weak Swiss inflation data support our view that SNB interest rate hikes are a very distant prospect. Elsewhere, Swedish production data suggest that quarterly GDP growth slowed in Q3. 6th November 2017 · 1 min read
Nordic & Swiss Economics Update Iceland’s election result reduces chance of fiscal boost At least four parties will be required to form a majority government following Iceland’s election, so coalition negotiations are set to take a number of months. As the left-wing parties performed... 1st November 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Oct.) October’s Swiss, Swedish and Norwegian manufacturing PMIs are consistent with strong growth in industrial output. But only in Sweden do we expect this to put sustained upward pressure on inflation. 1st November 2017 · 1 min read
Nordic & Swiss Economics Update Central bank actions push bond yields down In October, a combination of rising bond yields in the US and lower bond yields at home pushed Nordic and Swiss currencies down against the dollar. Weaker exchange rates, as well as decent economic... 30th October 2017 · 1 min read
Nordic & Swiss Economic Outlook Riksbank to move ahead of the pack Economic prospects for the Nordic and Swiss economies are fairly bright. Although Switzerland had a disappointing start to the year in terms of GDP growth, the surveys are universally positive about... 25th October 2017 · 1 min read
Nordic & Swiss Chart Pack Inflation pressures weak apart from in Sweden The inflation data for September suggest that underlying price pressures remained subdued in most of the Nordic and Swiss countries, apart from Sweden. 13th October 2017 · 1 min read
Europe Commercial Property Update Are Zurich office rents on the cusp of a revival? Economic and survey data suggest that prime office rents in Zurich may have finally found a floor. But with new developments and refurbishments equivalent to around 5% of current stock due to complete... 12th October 2017 · 1 min read
Nordic & Swiss Economics Update How will the SNB respond to ECB tapering? The Swiss National Bank will surely welcome the likely announcement later this month by the European Central Bank that it will wind up its asset purchase programme next year. This will probably help... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Sep.) & Swedish Industrial Prod. (Aug.) The rise in Swiss headline inflation in September will be welcomed by the Swiss National Bank, but subdued price pressures mean we expect the SNB to keep rates on hold until 2020. Elsewhere, Swedish... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Sep.) September’s Swiss and Swedish manufacturing PMIs both rose to high levels. But while fairly strong growth is unlikely to push inflation up in Switzerland, price pressures are mounting in Sweden. 2nd October 2017 · 1 min read
Nordic & Swiss Economics Update Government collapse triggers Icelandic market sell-off Bond yields across the Nordic and Swiss economies rose in September, largely in line with global trends as investors brought forward their expectations for monetary policy normalisation by the US Fed... 29th September 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF (Sep.) & Danish GDP (Q2, 2nd estimate) September’s rebound in the Swiss KOF Economic Barometer leaves it consistent with a pick-up in annual GDP growth to around 2%. But the KOF has overstated growth recently and, in any case, inflation... 29th September 2017 · 1 min read
Nordic & Swiss Economics Update Will Switzerland’s economic recovery restart? In light of the disappointing performance of the Swiss economy in the first half of the year, we have revised down our 2017 GDP forecast substantially. We still expect the economic recovery to gain... 22nd September 2017 · 1 min read
