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UK GDP for Q1 revised down

  • Q1 GDP growth revised down to 0.2 percent, private consumption and net exports disappoint
  • Some Q2 rebound to be expected, but growth trend should weaken ahead
  • Housing market weakening further - mortgage approvals weaker than expectations in April

Read why here

Kari Due-Andresen

Chief Economist Norway

Norway and UK

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UK Comment


Morgenrapport Norge


Morgenrapport Norge
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UK Comment — UK numbers on the weak side of expectations

  1. Q1 GDP growth lowered, private consumption and net exports disappoint
  2. A Q2 rebound possible, but growth trend should weaken ahead
  3. Housing market weakening further; weaker-than-expected mortgage approvals in April

Kari Due-Andresen, Chief Economist Norway |

Fast Comment China — Credit rating downgrade a blow to China’s push to attract foreign bond investors

  1. Limited negative effect on the overall economy
  2. More difficult to liberalise capital restrictions
  3. Authorities reject the arguments

Bjarke Roed-Frederiksen, Economist |

Fast Comment Norway — Expectations survey: little new information about wages; stronger GDP outlook

  1. Wage expectations among social partners have not changed much since the previous survey
  2. Wage expectations match Norges Bank's 2017-18 forecasts...
  3. ...but the GDP outlook appears to be stronger than expected

Marius Gonsholt Hov, Economist |

Fast Comment Finland — Unemployment rate (SA) remained stable in April

  1. Unemployment rate (SA) 8.9 percent in April
  2. Labour force increased more than employment in y-o-y terms
  3. Labour market situation continues to improve

Janne Ronkanen, Economist |

Fast Comment Sweden — Swedish sentiment indicators in May

  1. Strong outcome, as expected
  2. Encouraging labour market signals one factor behind above-normal consumer sentiment
  3. The overall economic sentiment is an upward risk to our GDP forecast

Johan Löf, Economist |