Nordic & Swiss Chart Pack Decent Q1 for most and surveys bode well for Q2 The latest national accounts data showed that quarterly GDP growth in most of the Nordic and Swiss economies picked up in Q1, led by Finland. The Finnish economy expanded by 1.2% q/q, followed by... 16th June 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (May) Underlying inflation was stronger than expected in May and domestic inflation should rise further from its 63-month high. As this will help to offset any disinflationary impact from a stronger krona... 13th June 2017 · 1 min read
Nordic & Swiss Economics Update The outlook for Nordic and Swiss equities Nordic and Swiss equities have generally performed very well this year, but prospects differ significantly between countries. We expect Norwegian equities to outperform over the next 18 months as oil... 7th June 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Apr.) As April’s surprise drop in Swedish industrial production was probably due to temporary factors, we expect output to rebound in May. And while the hard data have been weaker than the surveys suggested... 7th June 2017 · 1 min read
Nordic & Swiss Economics Update Currencies rise against dollar while bond yields decline The Nordic and Swiss currencies all appreciated against the US dollar in May, but performances against the euro were mixed. Following global trends, government bond yields generally declined. While... 31st May 2017 · 1 min read
Nordic & Swiss Data Response Swedish GDP (Q1), Retail Sales (Apr) & Swiss KOF (May) The slowdown in Swedish quarterly GDP growth in Q1 masked a strong rise in domestic demand. And with April’s pick-up in retail sales boding well for growth in Q2, underlying inflation should continue... 30th May 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (May) Despite slipping in May, the Swedish Economic Tendency Indicator continues to point to very strong economic growth. With the labour market therefore set to tighten further, we expect stronger wage... 24th May 2017 · 1 min read
Nordic & Swiss Data Response Swedish Labour Force Survey (Apr.) Despite April’s rise in the Swedish unemployment rate, it remains low by recent standards. And with over one third of firms suffering from a shortage of labour, we still expect wage growth to pick up. 23rd May 2017 · 1 min read
Nordic & Swiss Economics Update Change in Riksbank target unlikely to shift policy yet The Riksbank has stated that its new inflation tolerance band will have no effect on policy. But with some Board members growing increasingly concerned about the effects of ultra-loose monetary policy... 16th May 2017 · 1 min read
Nordic & Swiss Chart Pack Riksbank loosens while Norges Bank stands pat In the past month, central bank meetings have highlighted contrasts in the responses of policymakers towards inflation. In Sweden, inflation has been on an upward trend recently and is close to the... 12th May 2017 · 1 min read
Nordic & Swiss Data Response Swiss & Swedish Consumer Prices (Apr.) The sharp divergence in Swiss and Swedish inflation in April supports our views that the Swiss National Bank will need to keep monetary policy loose for a long time to come but that Sweden’s Riksbank... 11th May 2017 · 1 min read
Nordic & Swiss Economics Update Shift in Riksbank stance unlikely until turn of the year Today’s Riksbank minutes suggest that the proponents of last month’s shock QE extension are unlikely to change their minds on the direction of monetary policy any time soon. So there is little chance... 10th May 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Mar.) March’s Swedish production data suggest that GDP growth picked up further in Q1. And as stronger activity is consistent with a rise in inflationary pressure, we think that the Riksbank will have to... 5th May 2017 · 1 min read
Nordic & Swiss Economics Update Nordic & Swiss currencies to rebound from April’s falls After depreciating against the euro in April, we think that the Swiss franc, Swedish krona and Norwegian krone will rebound, but for different reasons. Political risk could yet re-escalate in Europe... 3rd May 2017 · 1 min read
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
