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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.
SWEDEN
Swedish September consumption/production indicators provided more evidence of a deteriorating consumer demand outlook. The prints provide more context re the September monthly GDP indicator, which printed at -0.5% M/M (vs a downwardly revised -0.5% prior) and -3.0% Y/Y (vs 0.1% prior).
- Household consumption fell -0.5% M/M, -0.7% Y/Y, while August figures were revised lower to +0.4% M/M and +0.3% Y/Y.
- Private sector production fell -1.4% Y/Y, as the services production component fell -1.0% Y/Y and construction fell -4.0% Y/Y. Industrial production at +1.9% Y/Y contributed to the upside.
- The increase in domestic and export market industrial orders was a bright spot of the print, with overall industrial orders rising +4.2% M/M (vs a 1.0pp upwardly revised +6.0% prior).
- Scandi markets have paid little attention to the Swedish release, with higher-than-expected Norwegian CPI providing the most market impetus for Scandi FX. NOKSEK is up +0.7% on the day at typing after falling the last 6 trading days.
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.
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