New research from Danske Bank
In Sweden, the September labour force survey (LFS) is the only data of importance next week. The decline in the unemployment rate has been slowing recently but for a positive reason, i.e. a strong inflow of job seekers that the economy is unable to absorb. Still, there is a very strong trend growth in employment above 2%, actually quite close to what was seen ahead of the financial crisis and during the rebound after it. We estimate a continuation of these trends in September.
We take a closer look at Swedish inflation that we argue has peaked and we point to the incipient signs of weakness in the Swedish housing market.
Norges Bank is due to publish the results of a telephone survey of its regional network, which could be the final cross check before the rate-setting meeting the week after. Although data at the margin has been slightly weaker than expected since the bank's September meeting, we do not expect the network to report any major changes to the outlook since the last full survey in August. Employer organisation NHO's expectations survey, which is broad-based in terms of both sectors and regions, suggests that growth is actually accelerating.
In Denmark, the week ahead is a quiet one, with the only significant news coming on Friday, when the statistical office publishes figures for retail sales in September and employment in August.
To read the entire report Please click on the pdf File Below: