Nordic & Swiss Data Response Swedish Consumer Prices (Aug.) Inflation was above both the Riksbank’s forecast and its target in August. With the strengthening economy suggesting that inflationary pressure is building, we think that the Riksbank will soon start... 12th September 2017 · 1 min read
Nordic & Swiss Economics Update Riksbank’s forward guidance unchanged despite high inflation While inflation in Sweden is higher than the Riksbank’s 2% target, the Bank’s decision to keep its forward guidance unchanged was not a major shock. The Riksbank is unlikely to shift its guidance... 7th September 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Jul.) A large gain in services output offset a fall in industrial production in July and suggests that overall the Swedish economy started Q3 on a fairly strong note. While the PMI surveys point to slower... 6th September 2017 · 1 min read
Nordic & Swiss Economics Update Nordic and Swiss bond yields decline Bond yields in most Nordic and Swiss markets fell in August, matching global trends. Currencies recorded mixed performances against the euro, with the Swiss franc depreciating while the Swedish krona... 1st September 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Aug.) & Finnish GDP (Q2) August’s manufacturing PMIs pointed to continued recoveries in Switzerland and Norway, but the Swedish index weakened significantly. That said, with other indicators suggesting that the Swedish... 1st September 2017 · 1 min read
Nordic & Swiss Central Bank Watch Riksbank on pause despite above-target inflation Economic growth and inflation have been stronger than expected since the Riksbank last met. Despite these developments, policymaker’s concerns about a sharp rise in the krona suggest that the Bank... 31st August 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF & Swedish Economic Tendency Indicators (Aug.) Falls Although surveys of overall economic sentiment in both Switzerland and Sweden fell in August, they still point to a healthy pace of GDP growth in both countries. But with inflation much stronger in... 30th August 2017 · 1 min read
Nordic & Swiss Data Response Norway GDP & Swiss Ind. Prod. (Q2) & Sweden Unemploy’t (Jul.) Norway’s mainland economy recorded another strong expansion in Q2 and forward-looking indicators suggest that the recovery will continue to gain pace. But with inflation set to fall further, we doubt... 24th August 2017 · 1 min read
Nordic & Swiss Economics Update Has Swedish inflation actually picked up? In recent months Swedish inflation has been artificially boosted by a new method for calculating package holiday prices. While the Riksbank will look through this particular effect, it is nevertheless... 22nd August 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Jul.) & Finnish GDP (Q2) July’s jump in Swedish inflation is partly due to a methodological change in the way that package holiday prices are tracked. Yet even excluding this effect, underlying inflation has picked up and... 15th August 2017 · 1 min read
Nordic & Swiss Chart Pack Geopolitical tensions halt Swiss franc’s slide The Swiss franc has had a rocky ride over the past month. In late July, it depreciated sharply to SFr1.15 to the euro, its lowest level since January 2015 when the Swiss National Bank abandoned its... 11th August 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Jun.) The Swedish industrial and services sectors have been performing well of late and the outlook is positive. With the Swedish economy firing on all cylinders, it won’t be long until the Riksbank changes... 10th August 2017 · 1 min read
Nordic & Swiss Data Response Swedish & Norwegian Manufacturing PMIs (Jul.) July’s Swedish and Norwegian manufacturing PMIs point to a continued pick-up in industrial output growth in both countries. But the Swedish survey’s price index implies some downside risks to... 1st August 2017 · 1 min read
Nordic & Swiss Economics Update Swedish political scandal lowers chance of tax hikes After last week’s political scandal, Sweden’s Government needs to boost its popularity. So the Government seems likely to row back from planned tax hikes ahead of next year’s general election. 31st July 2017 · 1 min read
Nordic & Swiss Data Response Swedish GDP (Q2) & Swiss KOF (Jul.) Sweden’s exceptionally strong GDP growth was driven entirely by domestic demand and highlights the need for monetary policy normalisation. Meanwhile, July’s rise in the Swiss KOF points to a pick-up... 28th July 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (July) & Labour Data (June) Both the Swedish Economic Tendency Survey and labour market indicators point to increasing wage and price pressures. This supports our view that the Riksbank and markets are underestimating how soon... 27th July 2017 · 1 min read
