Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Retail not off the hook yet Q2 data was a mixed bag as all markets recorded shifts in yields while only a handful of markets saw moves in rents. That said, Scandinavian investment activity took a significant hit in Q2, and... 24th August 2020 · 6 mins read
Nordic & Swiss Chart Pack Recovery on track after comparatively shallow slump Compared to many of the larger euro-zone countries, the coronavirus remains relatively well under control in the Nordic countries and Switzerland. With the exception of Denmark, there are at this... 13th August 2020 · 5 mins read
Europe Economics Focus Key lessons from Sweden’s Covid response Sweden’s unique response to the pandemic means that it has acted as a control experiment for economists and epidemiologists alike. We suspect that its economy would have shrunk by an additional 3-4%... 12th August 2020 · 18 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Jul.) Swedish headline inflation would have fallen further in July had it not been for temporary effects related to car rental prices. And while core inflation edged up from June, against a backdrop of... 12th August 2020 · 2 mins read
Nordic & Swiss Economics Weekly Swedish experience dashes hopes of rapid recoveries The fact that the contraction in Swedish GDP in Q2 was smaller than elsewhere in Europe understandably took the headlines this week. However, Sweden’s experience still demonstrates the extent to which... 7th August 2020 · 6 mins read
Nordic & Swiss Data Response Sweden GDP (Q2) The sharp contraction in the Swedish economy in Q2 confirms that it has not been immune to Covid, despite the government’s well-documented light-touch lockdown. Nonetheless, the economic crunch over... 5th August 2020 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (July), Manufacturing PMIs (July) Inflation in Switzerland now appears to have troughed, but it is set to remain frustratingly weak over the coming years and a headache for the SNB. Meanwhile, the manufacturing PMIs from July suggest... 3rd August 2020 · 2 mins read
Nordic & Swiss Data Response Sweden Economic Tendency Indicator (July) The rise in Sweden’s Economic Tendency Indicator (ETI) in July suggests the recovery there continued to gather pace at the start of Q3. That said, the rise in consumption appears to be slowing, and... 29th July 2020 · 2 mins read
Nordic & Swiss Economics Update Riksbank beefs up monetary stimulus The Riksbank has put its money where its mouth is when it comes to expanding its balance sheet, but in our view all roads still lead to a return to negative interest rates, either in late-2020 or... 1st July 2020 · 4 mins read
Nordic & Swiss Economics Weekly Nordic consumers making up for lost time The fact that retail sales volumes grew in year-on-year terms in the Nordic economies in May suggests that the Covid-related drops in consumption may end up being much smaller than we have assumed up... 26th June 2020 · 6 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Yield rises to reverse, except for retail The sharp reduction in economic activity over the first half of the year and prolonged uncertainty have negatively impacted investment activity and occupier demand. We expect this will flow through to... 26th June 2020 · 18 mins read
Nordic & Swiss Central Bank Watch Riksbank set to keep its powder dry next week While we still expect the Riksbank to cut its repo rate back into negative territory later this year, it is set to keep its powder dry at its policy announcement next Wednesday (1st July). 24th June 2020 · 5 mins read
Nordic & Swiss Economics Weekly Revised forecasts; policy stasis; football is back! Amid increasing signs that the Nordic economies have weathered the Covid crisis better than most we have upgraded our forecasts for GDP growth, and expect some clear daylight between growth in Sweden... 19th June 2020 · 4 mins read
Nordic & Swiss Economics Update New (higher) forecast for Swedish GDP There are increasing signs that the Swedish economy has weathered the crisis better than we first feared. Accordingly, we now expect GDP to contract by ‘only’ 2.5% this year (previously -7.5%). 16th June 2020 · 3 mins read
Nordic & Swiss Chart Pack Nordic economies closer to ‘normal’ than most The latest high frequency data indicate that economic activity in the Nordic economies has continued to recover in recent weeks, with trips to shops and restaurants now close to pre-crisis levels in... 12th June 2020 · 5 mins read
Nordic & Swiss Economics Weekly Sweden is weathering Covid comparatively well The 11% peak-to-trough drop in Swedish household consumption between February and April puts paid to any notion that Sweden has escaped unscathed following its light-touch lockdown. Nonetheless, the... 12th June 2020 · 4 mins read