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
Nordic & Swiss Economic Outlook Sweden to lead the way with monetary tightening Economic prospects are fairly bright in the Nordic and Swiss countries. Switzerland is benefitting from faster growth in the euro-zone, Swedish firms are optimistic about their prospects, and Norway... 21st July 2017 · 1 min read
Europe Economic Outlook Euro-zone will continue to impress The European economies are still in good shape, with the euro-zone benefitting from reduced political uncertainty and high levels of business and consumer confidence. We think that this strong... 19th July 2017 · 1 min read
Nordic & Swiss Economics Update How will the Riksbank react to the strengthening krona? The krona’s recent rise means that exchange rate effects will detract from Swedish inflation in 2018. But with domestic inflation set to rise further above 2%, this should not prevent the Riksbank... 17th July 2017 · 1 min read
Nordic & Swiss Chart Pack Inflation pressures limited apart from in Sweden The latest inflation data for June suggest that underlying price pressures remain subdued in Switzerland and Norway, but continue to build in Sweden. In Switzerland, core inflation, which excludes... 14th July 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Jun.) As underlying inflation is within touching distance of the Riksbank’s target, today’s rise in the krona should be followed by further gains as the remaining doves on the Executive Board come round to... 13th July 2017 · 1 min read
Europe Commercial Property Update Investors moving up the risk curve in Sweden Strong economic growth in Sweden means that, with only a limited quantity of prime product for sale, investors are being pushed up the risk curve in order to get their capital into the market. 7th July 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (May) & Serv. PMI (Jun.) While both industrial and services output grew in May, both sectors are set to record weaker growth in Q2 than in Q1. But as the monthly data were a poor guide to GDP growth in Q1, we are inclined to... 5th July 2017 · 1 min read
Nordic & Swiss Economics Update Riksbank drops easing bias from forward guidance By indicating that it no longer expects to cut interest rates, the Riksbank has taken a small step toward monetary policy normalisation. While the Bank indicated that it will continue to guard against... 4th July 2017 · 1 min read
Nordic & Swiss Economics Update Bond yields rise on prospect of tighter global monetary policy Bond yields across the Nordic and Swiss economies increased in June, in line with global market moves following major central bank speeches that prompted investors to bring forward their expectations... 30th June 2017 · 1 min read
Nordic & Swiss Central Bank Watch Riksbank to drop easing bias Since the Riksbank last met in April, underlying inflation has been stronger than expected, international political risks have diminished and economic conditions in Sweden’s trading partners have... 28th June 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (Jun) The Swedish Economic Tendency Indicator points to strong and broad-based growth, consistent with an acceleration in wage growth and a pick-up in underlying inflation. 21st June 2017 · 1 min read
Nordic & Swiss Data Response Swedish & Finnish Labour Force Surveys (May) Swedish employment growth seems set to slow but the unemployment rate should nevertheless drift lower this year after being unchanged in May. And with over one third of firms suffering from a shortage... 20th June 2017 · 1 min read
