In the euro area the flash estimate for HICP inflation in November is released and we expect it to decline back to this cycle’s low of 0.3% y/y in November. Falling energy prices drag down the headline but we also expect euro core inflation to decline to a new historical low of 0.6% y/y. This should keep the pressure on the ECB to ease further.
Sweden will release GDP numbers for Q3. We expect real GDP to have grown by 2.2% y/y in Q3 – down from 2.6% y/y in Q2.
In Norway focus will be on the results of Norges Bank’s latest regional network survey as well as on unemployment and wage data cf. below.
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