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Riksbank September Business Survey points concerns over Swedish economic outlook

The Swedish central bank Riksbank conducted a Business Survey in the month of September. The central bank stated that the Swedish economic activity has been good in the past three years and that it looks set to continue in the autumn. However, there is a rise in uncertainty.

The survey showed that firms in the country are generally quite concerned regarding the economic outlook now as compared to the earlier survey conducted in May. According to the survey, economic activity and new orders deteriorated. On the other hand, domestic demand still appears to be solid, especially in the construction industry. The construction sector is also witnessing overheating tendencies.

On the inflation front, the survey indicated that the firms anticipate inflation to stay weak. Meanwhile, low price pressure in the retail trade is likely to persist in spite of rising costs. Within retail, competition is seen as harsh and profit margins have worsened. The survey stated that a “very moderate upward adjustment in prices can be expected”.

The latest survey, along with the September inflation figure, provides certain additional arguments for the Riksbank to provide further easing, said Nordea Bank in a research note. The Riksbank is now expected to lower rate and expand its quantitative easing program during its upcoming meeting in October, added Nordea Bank.

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December 10 23:50 UTC Released

JPBusiness Survey Index*

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9.7 %

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9.4 %

December 9 01:30 UTC Released

CNPPI YY*

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5.8 %

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5.9 %

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6.9 %

December 11 07:00 UTC 405405m

TRCurrent Account Balance*

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-4.527 Bln USD

December 11 09:00 UTC 525525m

ITRetail Sales SA MM

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0.9 %

December 11 09:00 UTC 525525m

ITRetail Sales NSA YY

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3.4 %

December 11 11:30 UTC 675675m

TREndYear CPI Fcst/Cb Svy*

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10.68 %

December 11 15:00 UTC 885885m

USEmployment Trends*

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135.6 tln

December 11 15:00 UTC 885885m

USJOLTS Job Openings*

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6.093 Mln

December 11 21:00 UTC 12451245m

KRExport Price Growth YY*

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8 %

December 11 21:00 UTC 12451245m

KRImport Price Growth YY*

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6.8 %

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