Sweden: Retail sales likely to disappoint in November – TDS

Analysts at TD Securities are looking for Swedish retail sale to disappoint with a -0.3% MoM decline in November, (market +0.3%) following the pattern we've seen in some other countries where the late timing of Black Friday means that sales will be reflected in the December, rather than November, data.

Key Quotes

“We also get the minutes from the Riksbank's December rate decision today, which may give us a better sense of what exactly it would take to see the Riksbank move rates again, in either direction.”

“The Swedish data has been deteriorating for the last few months, but we think that the bar to cutting rates again is now extremely high, as the Riksbank is loath to move back to negative territory.”