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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
The Swedish Q3 GDP indicator was weaker than consensus at -0.1% Q/Q (vs -0.3% prior). Analysts had expected a 0.3% Q/Q reading while the Riksbank projected 0.2% Q/Q in the September MPR. The indicator should be interpreted with caution, as it has not been a good predictor of actual GDP outcomes this year. However, it still makes the November 7 Riksbank decision a closer call between a 25bp or 50bp cut in our view.
- Very few details of underlying drivers are provided in the flash release, which notes that weak readings in July and September drove the negative quarterly print. The final Q3 GDP release is due at the end of November.
- Elsewhere, September retail sales were also weaker-than-expected at -0.1% M/M (vs 0.2% cons), possibly weighing on aggregate consumption in Q3.
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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