Nordic & Swiss Data Response Manufacturing PMIs (Apr.) The PMIs weakened in April, but still point to faster manufacturing growth. And the Swedish survey suggests that inflation there will rise, supporting our view that the Riksbank erred in extending its... 2nd May 2017 · 1 min read
Nordic & Swiss Economics Update French election pushed currencies down and yields up Following Mr Macron’s victory in the first round of the French presidential election, Nordic and Swiss currencies depreciated and government bond yields rose. And dovish comments from policymakers at... 28th April 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Apr.) April’s fall in the Swiss KOF Economic Barometer leaves it still pointing to a pick-up in annual GDP growth to around 2%. But with inflation extremely low and given signs that the strong franc is... 28th April 2017 · 1 min read
Nordic & Swiss Economic Outlook Strong growth throughout, but policy to diverge Prospects appear to have improved for all of the Nordic and Swiss economies, with surveys pointing to annual GDP growth of up to 3% in Switzerland and 5% in Sweden. Inflation has been subdued on the... 21st April 2017 · 1 min read
Europe Economic Outlook Outlook has brightened despite political risk The euro-zone has continued to perform very well and we now expect growth to be stronger than the consensus forecast this year and next. Inflation has been lower than we had assumed, meaning that... 19th April 2017 · 1 min read
Nordic & Swiss Chart Pack Activity surveys point to faster growth Activity surveys suggest that economic growth in the largest Nordic and Swiss economies is set to pick up. In Switzerland, the KOF Business Barometer points to annual GDP growth rising from Q4’s 0.6%... 13th April 2017 · 1 min read
Nordic & Swiss Economics Focus “Overvalued” Swiss franc may rise further While conventional metrics give some support to the Swiss National Bank’s view that the franc is “significantly overvalued”, the evidence from the economy implies that it is not. What’s more, we think... 13th April 2017 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Mar.) March’s Swiss inflation data do little to alter the picture of extremely subdued price pressures. With the core rate barely positive and inflation expectations very low, we expect the Swiss National... 6th April 2017 · 1 min read
Nordic & Swiss Economics Update How will macro-prudential tools influence monetary policy? Central banks in Switzerland, Sweden and Norway have all voiced concerns about overheating in their housing markets. In Switzerland, macro-prudential policies have already served to cool house price... 5th April 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Mar.) March’s PMIs point to faster manufacturing growth in Switzerland, Sweden and Norway. They also imply that price pressures are building in Sweden, which we think will force the Riksbank to tighten... 3rd April 2017 · 1 min read
Nordic & Swiss Economics Update Sharp currency depreciations in Norway and Iceland Market movements across the Nordic and Swiss economies were fairly limited in March. The main exceptions were in the currency market, with both the Norwegian krone and Icelandic króna recording sharp... 31st March 2017 · 1 min read
Europe Data Response EC Business & Consumer Survey (Mar.) Despite edging down in March, the EC Economic Sentiment Indicator suggests that euro-zone growth picked up in Q1. But with consumers’ inflation expectations levelling off recently, talk of tighter... 30th March 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Mar.) March’s rise in the Swiss KOF Economic Barometer to a three-and-a-half-year high provided further evidence that the economy made a positive start to 2017. But with inflation still low and persistent... 30th March 2017 · 1 min read
Nordic & Swiss Chart Pack Swiss economic outlook improves but deflation still a risk Although Switzerland’s economy registered another disappointing quarter of growth in Q4, expanding by just 0.1% q/q, business and consumer surveys paint a more positive picture for 2017. The KOF... 21st March 2017 · 1 min read
Nordic & Swiss Economics Update SNB on hold, but fight against franc will need to continue The Swiss National Bank’s decision to leave interest rates on hold was as expected given the recent rise in inflation. But with euro-zone political developments likely to put upward pressure on the... 16th March 2017 · 1 min read
Nordic & Swiss Central Bank Watch Inflation rise won’t stop SNB fighting strong franc The Swiss National Bank will reiterate after its meeting on 16th March that it remains fully prepared to act to prevent any significant appreciation of the Swiss franc in the coming months. Although... 9th March 2017 · 1 min read
