Capital Economics

The leading macroeconomic research consultancy

European Chart Book

Aims to give a monthly snapshot view of the economy in chart form.

Sample - Entering another deep recession

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Articles
Weakening outlook fuels growth callsLTRO euphoria starting to fadeConsumer outlook darkensMoney and credit still very weakDivergences widenEntering another deep recessionSigns of a widespread recessionRise in inflation will be short-livedRisk of a return to recession growsCore economies weakening
Slowdown broadeningFurther signs of a slowdownEuro-zone recovery starting to falterHawkish ECB adding to the periphery's troublesRecovery regaining momentumRising inflation unnerves the ECBHousehold spending prospects weakenCore economies shrug off debt worriesPeripheral strains still buildingRecovery starting to falter
Economic divergences widen yield spreadsEuro-zone takes the lead... for nowDivergences continue to widenFiscal crisis starting to weigh on confidenceRecovery defies fiscal crisis… for nowFiscal worries darken the outlookRecovery prospects weakenA sluggish start to the yearCore inflation pressures still very subduedDomestic spending still weak
Recovery gathers momentumExport outlook brightensGrowing again?Consumers benefiting from falling pricesDeflation arrivesInventory correction has further to runQ1 should mark the trough in the growth cycleLabour market downturn gathering paceBusiness surveys still paint a gloomy pictureIndustrial slump intensifies
GDP to fall by at least 2% this yearRecession spreads to servicesPlunging surveys point to economic contractionFinancial turmoil takes centre stageInflation starting to fallRecession risks mountingNasty mix of slowing growth and rising inflationQ1 GDP lays the foundation for a solid yearSurveys take a turn for the worseCountry-level divergences widening
Stronger euro raises pressure on ECBActivity slips into rate-cutting territoryInflation worries boost interest rate expectationsStill few signs of rebalancingInflation outlook takes a turn for the worseGDP growth on course to rebound in Q3Economic news supports ECB tightening biasToo soon to write off the recoveryStill no sign of spending pick-upIndustrial recovery slowing, but not over
Solid Q1 reinforces strong growth outlookMaintaining momentumTightening cycle nears peakUpward revision to 2007 GDP growth forecastStarting 2007 on a high noteExport growth set to slow only modestly next yearQ3 slowdown won't prevent strong growth in 2006Drop in inflation eases pressure for further tighteningEuro-zone growth to slow only a little in Q3Euro-zone growth to reach 2.5% this year
Recovery still in full swingConsumers join the partyQ1 GDP echoes solid tone of surveysInflation pressures starting to easeSurveys still pointing to strong recoveryHard data continues to lag the surveysWidening recovery points to stronger growthDomestic recovery to push rate expectations higher (Dec 05)German elections cast shadow over euro-zone (Sep 05)Core inflation falls but outlook less dovish (Aug 05)
Rate cut expectations dwindle as confidence improves (Jul 05)Pressure mounts for ECB rate cut (Jun 05)Euro-zone business confidence slips (Apr 05)Recovery to falter in 2005 (Feb 05)Euro-zone growth to disappoint in 2005 (Dec 04)Early signs of a slowdown (Oct 04)Global weakness punctures the euro-zone recovery (Aug 04)Downside risks to both growth and inflation (Jul 04)