Market movers today – Danske Bank

Analysts at Danske Bank point out that in the UK, the index of services for October is released today and suggests that this indicator is important for the assessment of growth at the beginning of Q4.

Key Quotes

“According to PMI services, service sector growth has been muted in Q4.”

“The Danish fiscal budget for 2018 should be approved in the third budget hearing after the Liberal Alliance stated that it will support the budget law. We also get the revised national accounts data for Q3 in Denmark, when we will find out whether growth is still estimated to have been as bad as suggested previously.”

“In Sweden , November retail sales are due to be released. We expect to see modest increases of 0.5% m/m and 1.2% y/y. However, we note that the modest y/y figure reflects mainly a very strong sales performance a year ago.”

“NAV is due to publish December jobless numbers today in Norway. All leading indicators are pointing to continued above-trend growth and rising employment and vacancies seem to be holding up well. Therefore, we expect an unchanged jobless rate of 2.3%, which translates into a moderate decrease in seasonally adjusted terms. We expect gross unemployment - our preferred jobless measure - to fall by 1,000 people m/m.”