- Small changes to overall unemployment; we expect fairly stable LFS and registered unemployment rates
- Whopping decline in retail sales in December, but probably some payback in January
- We expect retail sales rose by 1 percent m-o-m in January
- GDP not showing a technical recession, we forecast
- Economic sentiment in gradual descent
- Stay alert on shaky retail sales
- First increase in PMI in six months
- Service sector recovers, but German manufactures even more downbeat
- Somewhat comforting for the ECB
- Downwardly revised estimates for 2019
- Petroleum investments reported to drop significantly in 2020
- At face value, weaker than expected by Norges Bank
- Inflation well short of expectations
- But volatile components explain most of our forecast error - partly temporary?
- For the time being, we stick to our view of decent inflation developments in 2019