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Sweden Comment — Preview of Swedish retail sales

  1. Moderate growth expected after surprisingly strong April reading
  2. Retail sector confidence a reason for optimism

Johan Löf, Senior Economist | jolo22@handelsbanken.se

Morgenrapport Norge —

Marius Gonsholt Hov, Senior Economist | maho60@handelsbanken.no

Morgenmelding Danmark —

Bjarke Roed-Frederiksen, Senior Economist | bjro03@handelsbanken.dk

EMU Comment — Draghi believes there is a need for tighter policy "parameters"

  1. Draghi sounded hawkish on policy instruments
  2. This time is different; no classic tightening cycle

Rasmus Gudum-Sessingø, Senior Economist | ragu02@handelsbanken.dk

Fast Comment Denmark — Retail sales weaker than expected

  1. Retail sales were flat in May, which was weaker than our forecast (0.3% m-o-m)
  2. Clothing sales increased as expected, but food sales disappointed with a drop
  3. Revisions leave the impression of weaker momentum in retail sales

Jes Asmussen, Chief Economist Denmark | jeas01@handelsbanken.dk

Danish Comment — Dampen går af detailsalget

  1. Detailsalget lå fladt i maj, hvilket var svagere end vores forventning om en fremgang på 0,3% m/m
  2. Tøjsalget trak op som ventet, men salget af fødevarer og andre dagligvarer faldt
  3. Revisioner bagud i tiden efterlader indtrykket af et lidt svagere momentum i detailsalget

Jes Asmussen, Chief Economist Denmark | jeas01@handelsbanken.dk