Sweden: Weak trend in imports explains rising trade balance
The October trade balance beat expectations. However, the better than expected figure is more due to low imports rather than strong exports. The trend in both exports and imports is weak, indicating sluggish GDP growth for Q4.
The trade balance for Q3 was revised down by SEK 2.4bn mainly due to higher imports. This shaves off some of the upside risks on our call for Q3 GDP at 0.8% q/q due tomorrow.
Details October:
Trade surplus: SEK 7.8bn (consensus 6.3; prior 10.4 revised from 11.9; Oct. 2010 5.5)
Exports y/y, current prices: 3% (prior 6 %)
Imports y/y, current prices: 1% (prior 4% revised from 3 %)
Torbjörn Isaksson, chief analyst Sweden
Other news
Nordea Private Banking passes milestone of 100,000 clients
For the first time ever the number of Private Banking clients in Nordea exceeds 100,000 in the Nordics.
Casper von Koskull to speak at international event in Copenhagen
Nordeas Executive Vice President joins the event of International Capital Market Association, ICMA
Rodney Alfvén: From the capital of Italy to the capital of Nordea
After a few relaxing days in the capital of Italy it´s time to return to work and the capital of Nordea.
Nordea is perceived as a responsible brand
Nordea is among the most sustainable banks in the Nordic countries according to surveys conducted by Sustainable Brand Index. In Sweden Nordea shows...
Global Chief Economist Helge J. Pedersen: Europe must help itself
Like Baron Von Münchhausen, Europe will have to pull itself out of the swap by its hair.
Christian Clausen interviewed by Bloomberg
Nordea’s CEO Christian Clausen was interviewed by news agency Bloomberg on Wednesday the 24 April when Nordea presented the first quarter results...
Rodney Alfvén: Delivery day
Today we release our result for Q1/13. As always it is a very hectic day; we release the report at 7am, host a press conference at 9.30am, an...
Future of Climate in Europe
The European Parliament rejected the back-loading proposal, striking a further blow to the EU’s ailing emissions trading scheme (ETS). Carbon...
Nordea awarded best bank in the Nordic region
Global Finance has awarded Nordea as “best bank 2013 in the Nordic region”. Nordea in Sweden, Finland and Norway was also awarded as best bank in...
Nordea´s funds a European exporting success story
Nordea is ranked fifth in sales of investment funds in Europe, according to a new international analysis from Lipper/Thomson Reuters.
