MNI: ECB CUTS KEY DEPOSIT RATE BY 25 BP TO 3.0%

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GDP lower than expected but upward revisions to prior data

SWEDEN
  • GDP lower than expected: On a Q/Q basis 0.9% growth in Q2 (1.4% expected) but there was a big upward revision to Q1 from -0.8% to +0.2%. There was also a 0.2ppt upward revision to Q4-21 and downward revisions to Q1-21 and Q3-21. On a Y/Y basis 3.8% this equates to vs the 4.2% survey number.
  • In terms of the breakdown consumption rose 1.6%Q/Q, gross fixed capital formation 3.3% (of which "The main contribution to the increase came from investments in buildings and structures as well as in intellectual property products."), while net exports were -0.5%, government consumption -0.3% and inventories unchanged.
  • This will probably not do much to change the Riksbank's policy decision at next month's meeting with the market expecting the debate to be between a 50bp or a 75bp hike due to much higher than forecast inflation.
  • So overall the details look better than the headline numbers would suggest.- EURSEK moved a little higher on the release (10.65 to 10.656) but is now slightly below its prevailing levels ahead of the data at 10.463.
DataHomepageData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.