Nordic & Swiss Data Response Norway GDP (Q1 2021) The weaker-than-expected 1.0% q/q decrease in Norwegian mainland GDP in Q1 confirmed that the economy slipped behind its Swedish counterpart at the start of the year, and suggests that it is now... 12th May 2021 · 2 mins read
Nordic & Swiss Economics Weekly Higher Sweden forecast, Denmark’s "Hamlet" moment The Swedish economy has proved remarkably resilient at the start of 2021, having surpassed its pre-virus level in March and surveys suggesting that it is powering ahead in Q2. Against this backdrop... 7th May 2021 · 6 mins read
Europe Commercial Property Update Prague industrial rents to keep growing this year Following stronger than expected Q1 data, we have revised up our rental forecast for 2021. And Prague’s low costs and constrained supply means that we think rental growth has further to go this year. 6th May 2021 · 3 mins read
Europe Commercial Property In which cities will WFH have a larger impact? More working from home will inevitably change cities as we know them. However, cities are more than just workers. This means that cities where a higher share of jobs can be done remotely are not... 5th May 2021 · 4 mins read
Europe Economics Weekly ECB will shrug off temporary rise in price pressures Euro-zone business surveys published this week highlighted that many of the region’s manufacturers are struggling with supply shortages and logistical constraints and illustrated that the problem goes... 30th April 2021 · 7 mins read
Europe Commercial Property Update Stockholm prime offices on track to outperform Recent developments add weight to our view that Stockholm office values will rise by more than most other western European markets over the 2021-25 period. However, even in Stockholm, these gains will... 29th April 2021 · 3 mins read
Nordic & Swiss Economics Weekly Swiss President to use his mojo, but not like BoJo After years of inaction, the recent round of Swiss-EU talks on a new bilateral “framework agreement” suggest there is finally some light at the end of the tunnel, which would help remove some economic... 23rd April 2021 · 6 mins read
Europe Commercial Property Update Antwerp retail to extend lead over Brussels With retailers in Belgium set to remain under pressure due to shifts in spending, we think that prime high street rents will extend their falls this year. And with e-commerce remaining a dark cloud... 21st April 2021 · 3 mins read
Nordic & Swiss Central Bank Watch Riksbank happy to bide its time next week The Riksbank is all but certain to leave its repo rate on hold next Tuesday (27th April), and will stick to the plan to spend the entire SEK 700 billion asset purchase envelope by the end of the year... 20th April 2021 · 5 mins read
Nordic & Swiss Economic Outlook Still running ahead of the pack As elsewhere in mainland Europe, the slow vaccine rollout means that the rebound in domestic activity is unlikely to get underway in earnest until Q3. Denmark is a noteworthy exception; its... 16th April 2021 · 13 mins read
Nordic & Swiss Economics Weekly No AZ jabs please, we’re Danish The tide has turned against the AstraZeneca vaccine in Denmark and Norway and fewer available vaccine doses could delay the rollouts in the Nordics, potentially by several months. At this stage, we... 16th April 2021 · 4 mins read
Nordic & Swiss Chart Pack Rotation trade to resume and to drag the franc lower The partial unwinding in the reflation trade in recent weeks has stopped the decline in the Swiss franc in its tracks. Having depreciated against both the US dollar and the euro since the start of... 14th April 2021 · 5 mins read
Europe Commercial Property Update Supply surge to extend Dublin offices’ unlucky streak Initial demand indicators support our view of further falls in Dublin office rents this year. And with construction on hold, spill overs from delayed completions could threaten the rental recovery. 14th April 2021 · 3 mins read
Nordic & Swiss Economics Weekly Switzerland gets a clean report card from the IMF The support voiced by the IMF for the SNB’s policies following the latest Article IV consultation with Switzerland provides further cover, if needed, for the Bank to push back against accusations of... 9th April 2021 · 5 mins read
Europe Commercial Property Update Where is there scope for conversions to residential? Few office or retail markets currently look economically viable for residential conversions. However, expected falls in values, particularly for retail, and acute housing shortages suggest that there... 9th April 2021 · 3 mins read
Energy Update Weaker European demand won’t derail our oil forecast While we have revised down our oil price forecast for Q2 and Q3 this year in response to the OPEC+ decision to ease production cuts, we still think a rebound in global demand will help push oil prices... 8th April 2021 · 3 mins read
