Tag Archives: SEK

Exports of goods rose by a mere 1% over the year in April. However, this is a decent figure taking into account that the calendar weighed on growth (one working day less than in April last year).

Following an already positive trend in recent months, retail sales reached new highs in April. Retail sales rose by an impressive 5.7% over the year, beating even our above-consensus call.

Confidence in the total business sector fell by 2 points to 103.1 in May. The indicator peaked at 108.9 in January and has declined since then.

The Labour Force Survey was weaker than expected. Unemployment rose to 8.2% in April from 8.1% in March, 0.2% point above consensus and 0.3% above our call.

Important pieces of the Q1 GDP puzzle were out yesterday, namely inventories for manufacturing industry as well as for retailers and wholesalers.

April CPI came out at +0.4% on the month, just above forecasts at 0.3%. The main surprise was ticket prices for foreign flights, adding 0.2% point to the CPI m/m compared to our call at 0.1% point.

The service sector PMI rose sharply in April to 57.8, which together with the outcome in December 2013 was the highest reading since April 2011.

The April PMI report for the manufacturing industry was very much as expected. The PMI edged down to 55.5 from 56.5 in March.