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Upbeat Swedish sentiment remains

  • Manufacturing confidence sligtly weaker, as expected
  • Consumer confidence roughly sideways, sligthly higher than forecasts
  • Overall confidence sligtly weaker, sligthly higher than forecasts
Read why here

Anders Brunstedt

Economist

Sweden

anbr42@handelsbanken.se

Latest analyses

2017-02-24

The Week Ahead

2017-02-24

Fast Comment Sweden

2017-02-17

Fast Comment Sweden
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The chart of the day

Calendar

Fri, Feb 24
      Graph Period Cons. fc Our fc Previous Actual
08:00 Finland Retail Trade ex auto January -0.7 2
08:45 France Consumer Confidence (INSEE) February 100.2 100.2
09:00 Denmark Retail Sales January -1.7 0.5
09:00 Sweden Economic Tendency Survey February 111.9 111.6
09:00 Sweden Consumer Confidence (CCI) February 104.6 104.5
09:00 Sweden Manufacturing Confidence February 118.7 117.7
16:00 US New Home Sales January 571K 535K 555K
16:00 US U. of Mich. Sentiment 96.0 98.5 96.3
Mon, Feb 27
      Graph Period Cons. fc Our fc Previous Actual
08:00 Finland Consumer Confidence February 21
09:00 Denmark Industrial Confidence Indicator February -2 -4
09:30 Germany Markit PMI Manufacturing February 57.0 57
09:30 Germany Markit PMI Composite February 56.1 56.1
09:30 Sweden Household Lending January / 7.1
10:00 Eurozone Markit PMI Composite February 56.0 56
10:00 Eurozone Markit PMI Manufacturing February 55.5 55.5
10:00 Eurozone Markit PMI Services February 55.6 55.6
11:00 Eurozone Industrial Confidence Indicator February 1.0 0.8
11:00 Eurozone Business Confidence Indicator February 0.79 0.8
11:00 Eurozone Service Confidence Indicator February 13.2 12.9
11:00 Eurozone Economic Confidence February 108.0 107.9
14:30 US Durable Goods Orders January 1.6/ -0.5 / 1.7
14:30 US Capital Goods Shipment Nondef ex Air January 1
16:00 US Pending Home Sales, sa January 0.9 1.6
16:30 US Dallas Fed Man. Activity Index February 20.0 22.1
Tue, Feb 28
      Graph Period Cons. fc Our fc Previous Actual
01:05 UK Consumer Confidence February -6 -5
08:00 Finland House Prices January -0.7 / -0.6
08:00 Norway Credit Indicator Growth January 4.8 4.8
08:00 Norway Credit Indicator Growth, Households January 6.4
09:00 Denmark GDP Q4 0.4/1.8 0.2 0.4
09:30 Sweden GDP Q4 0.8/2.3 1.6/3.0 0.5 / 2.8
09:30 Sweden Retail Sales, sa January 1.4/ 2.7/ -2.9
09:30 Sweden Retail Sales January /2.3 /3.1 / 0.6
14:30 US GDP annualized, Q4 2.1 1.9
15:00 US House prices S&P/Case-Shiller December 0.7/5.3 0.9 / 5.3
15:45 US Chicago ISM February 53.0 50.3
16:00 US Consumer Confidence February 111.0 111.8
16:00 US Richmond Fed Man. Activity Index February 10.0 12
Wed, Mar 1
      Graph Period Cons. fc Our fc Previous Actual
02:00 China PMI Manufacturing February 51.2 51.3
02:45 China Caixin PMI Manufacturing February 50.8 51
08:00 Finland GDP, sa Q4 0.4
08:30 Sweden PMI manufacturing, sa February 62
09:00 Norway PMI manufacturing, sa February 51.8 51.4
09:30 Sweden Riksbank publishes minutes from February meeting
10:00 Germany Unemployment Rate, sa February 5.9 5.9
10:30 UK Markit PMI Manufacturing February 55.6 55.9
11:00 Denmark PMI manufacturing, sa February 59.9
14:00 Germany HICP preliminary February -0.8 / 1.9
14:00 Germany CPI preliminary February 0.6/2.1 -0.6 / 1.9
14:30 US PCE Deflator January 0.5/2.0 0.2 / 1.6
14:30 US PCE Core January 0.3/1.8 0.1 / 1.5
15:45 US Markit PMI Manufacturing February 54.3
16:00 US ISM manufacturing February 56.0 56
17:00 World Markit PMI Manufacturing February 52.7
20:00 US Fed release Beige Book
Thu, Mar 2
      Graph Period Cons. fc Our fc Previous Actual
08:00 Norway Retail Sales ex auto sa January 1.1 1.8 -2.1
08:00 Norway Household goods consumption January 17.6 / -0.8
11:00 Eurozone CPI Flash estimate /1.9
11:00 Eurozone Unemployment Rate, sa January 9.6 9.6
11:00 Eurozone HICP Flash y-o-y February 1.9 / 1.8
11:15 Norway Central Bank Governor Olsen speaks
15:45 US ISM New York February 57.7
Fri, Mar 3
      Graph Period Cons. fc Our fc Previous Actual
China Political and National people´s congress March 03-10, 2017
00:30 Japan CPI Core January 0.0 0 / -0.1
00:30 Japan CPI January /0.4 -0.2 / 0.3
02:45 China Caixin PMI Composite February 52.2
09:00 Denmark Unemployment January 4.3 4.3 4.3
09:00 Denmark Unemployment, LFS 6.2 6.2
09:30 Sweden Industrial Production, sa January 2.1/ 2.0/ -1.8
09:30 Sweden Service Production, sa January 1.2 / 3.9
09:30 Sweden Industrial Production January /1.5 /2.7 / -0.9
10:00 Norway Unemployment Rate (NAV) February 3.1 3.1 3.2
10:30 UK Markit PMI Composite February 55.6 55.5
11:00 Eurozone Retail Sales, sa January 0.3/1.5 -0.3 / 1.4
11:15 Norway House prices February / 12.4
15:45 US Markit PMI Services Biz Act February 53.9
16:00 US ISM Non-Manufacturing February 56.4 56.5
17:00 World Markit PMI Composite February 53.9
17:00 World Markit PMI Services February 53.9
19:00 US Fed Governor Yellen speaks
Fri, Feb 24|
Mon, Feb 27|
Tue, Feb 28|
Wed, Mar 1|
Thu, Mar 2|
Fri, Mar 3
View the complete calendar

Latest publications in

The Week Ahead — February 27 – March 3

China: PMIs have peaked
Eurozone: Headline inflation about to peak
Sweden: We expect 2016 GDP data to end the year with a strong increase;
               Retail sales likely to recover from December drop;
               We expect growth to recover for industrial production in Q1
Norway:  Retail sales bounce in January, but the trend remains weak

Anders Brunstedt, Economist | anbr42@handelsbanken.se

Fast Comment Sweden — Upbeat sentiment remains in February

  1. Manufacturing confidence slightly weaker, as expected
  2. Consumer confidence roughly sideways, slightly higher than consensus
  3. Overall confidence slightly weaker, slightly higher than forecasts

Anders Brunstedt, Economist | anbr42@handelsbanken.se

Fast Comment Norway — Outlook for petroleum investments broadly in line with Norge Bank

  1. Petroleum investments expected to decline by around 9-10 percent this year (real terms)
  2. Investments will decline during H1 2017; then the contractions should start to ease
  3. The outlook is broadly in line with Norges Bank's projections

Marius Gonsholt Hov, Economist | maho60@handelsbanken.no

Fast Comment US — FOMC minutes send mixed signals: increasing rates fairly soon and waiting longer

  1. Ample time for the FOMC to respond if inflationary pressures increased
  2. Time to start the discussion about a reduction of the Fed’s asset holdings
  3. Our view: Fed in a wait-and-see mode

Petter Lundvik, Economist | pelu16@handelsbanken.se

Fast Comment Norway — Survey unemployment much lower than expected; sharp decline in labour participation

  1. LFS unemployment at 4.4 percent in December, down from 4.7 percent in Nov
  2. Much lower than expected; we and consensus had 4.7 percent
  3. Unemployment rate pulled down by a sharp decline in labour force participation

Marius Gonsholt Hov, Economist | maho60@handelsbanken.no

Monthly Macro Update — No smooth sailing in sight

US: In for a boom/bust episode
Eurozone: A tall order for the ECB
Nordics: Growing confidence

Ann Öberg, Chief Economist | anob04@handelsbanken.se