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29 May 2013
Flash: Swedish GDP surprised to the upside –TD Securities
FXstreet.com (London) - TD Securities noted that the Swedish GDP surprised to the upside each quarter of 2012.
They were adding that while the most recent data, especially in the labour market and trade-dependent sectors, has been weaker than expected, this seems more likely to be a drag on Q2, as most of the data through the quarter was trending better than expected. So they see upside risks to Q1 GDP and expect a 0.5% q/q print, better than the 0.3% that the market and Riksbank forecasts expect.
They were adding that while the most recent data, especially in the labour market and trade-dependent sectors, has been weaker than expected, this seems more likely to be a drag on Q2, as most of the data through the quarter was trending better than expected. So they see upside risks to Q1 GDP and expect a 0.5% q/q print, better than the 0.3% that the market and Riksbank forecasts expect.