Filtered by Subscriptions: Europe Economics Use setting Europe Economics
The Fed’s latest Senior Loan Officer Survey suggested that constraints on the supply of credit in the US have eased in the second quarter. (See our US Economics Update “Fed’s survey suggests credit crunch has eased”, 4th May.) Is the credit crunch easing …
5th May 2009
This report is only available as a PDF. Click to download. … Euro-zone Producer Prices (Mar.) …
This report is only available as a PDF. Click to download. … Euro-zone inflation has further to sink …
4th May 2009
The ECB is almost certain to cut interest rates by 25 basis points to 1% this month, where they should remain for some time. But after last month’s hints that further unconventional policies could be announced at this meeting, the key interest will be in …
30th April 2009
This report is only available as a PDF. Click to download. … Euro-zone Flash CPI (Apr.) & Unemployment (Mar.) …
The severe impact on Europe’s exporters of the outright collapse in global demand and tradeflows will cause most economies in the region to contract very sharply in 2009. Indeed, most will now see even deeper downturns than that likely in the US, with the …
29th April 2009
This report is only available as a PDF. Click to download. … Euro-zone EC Survey (Apr.) …
This report is only available as a PDF. Click to download. … Swiss KOF Barometer (Apr.) …
Initial estimates suggest that the Spanish economy may not have contracted quite as rapidly as some of the other major euro-zone economies in Q1. However, the housing market slump and the rapidly deteriorating labour market suggest that the Spanish …
The latest euro-zone money data suggest that the ECB’s liquidity provisions are doing nothing to boost broad money growth in the region. This will increase the pressure on the ECB to announce bold unconventional policy measures to encourage banks to lend …
Hopes that Europe might weather the global economic storm relatively well have been shattered as the region has followed the US into an extremely severe recession. Sadly, a reliance on exports will almost certainly mean that the euro-zone does lag behind, …
28th April 2009
The Financial Times recently reported that, according to internal analysis prepared for the Fed’s last policy meeting, the ‘ideal’ interest rate in the US should be minus 5%. The analysis was based on the so-called Taylor rule, which is often used as a …
This report is only available as a PDF. Click to download. … German CPI (1st Est. Apr.) …
This report is only available as a PDF. Click to download. … Euro-zone economy to contract by 5% this year …
27th April 2009
The Spanish unemployment rate rose at breakneck speed in Q1, suggesting that household spending is set to continue to plunge this year. Accordingly, we still think that the consensus forecast of a 2.9% fall in GDP in 2009 looks too optimistic. … Mounting …
24th April 2009
This report is only available as a PDF. Click to download. … German Ifo Survey (Apr.) & French Consumer Spending (Mar.) …
With the euro-zone set to enter its worst recession in the post-war period, concerns about the prospect of a member state defaulting on its debt have rocketed and even prompted speculation of a euro-zone break-up. But while there is no doubting that the …
23rd April 2009
This report is only available as a PDF. Click to download. … Euro-zone Flash PMIs (Apr.) …
The euro-zone 2008 budget deficit figures show that the health of the public finances in parts of the region has deteriorated at an alarming rate. Nonetheless, we think that the state of the public finances in the region is unlikely to worsen to the point …
22nd April 2009
The German Government’s plans for further measures to support the banking sector might sound broadly encouraging, particularly as banks there have so far not suffered as much as those elsewhere. But it is disappointing that no firm details will be …
21st April 2009
This report is only available as a PDF. Click to download. … German ZEW Survey (Apr.) …
The Swedish Riksbank’s decision to commit to a prolonged period of low interest rates to help kick start the economy is clearly a step in the right direction, but this alone may not be enough. We think that the Bank will soon be forced to follow the lead …
This report is only available as a PDF. Click to download. … The trade loop - Emerging Europe hits the euro-zone …
20th April 2009
This report is only available as a PDF. Click to download. … Euro-zone Trade Balance (Feb.) …
17th April 2009
This report is only available as a PDF. Click to download. … Euro-zone Industrial Production (Feb.) …
16th April 2009
This report is only available as a PDF. Click to download. … Lower loan rates might provide some respite... eventually …
13th April 2009
This report is only available as a PDF. Click to download. … German & French Trade (Feb.) …
8th April 2009
This report is only available as a PDF. Click to download. … Euro-zone Retail Sales & Producer Prices (Feb.) …
6th April 2009
This report is only available as a PDF. Click to download. … What next from the ECB? …
Although the ECB’s 25bp interest rate cut was smaller than expected, the decision appears to have reflected a desire to maintain the corridor between the official rate and deposit rates rather than a reluctance to further stimulate the economy. What’s …
2nd April 2009
The downturn in the euro-zone labour market is gathering pace. Another very sharp rise in unemployment in February took the total increase so far to over 2 million. With 1.6 million of that pick-up occurring in just the past six months, conditions are …
1st April 2009
This report is only available as a PDF. Click to download. … Euro-zone Unemployment & German Retail Sales (Feb.) …
February’s dreadful Spanish retail sales figures have dashed any hopes that the recent sharp falls in inflation and mortgage payments would lead household spending to stabilise at the start of the year. With conditions likely to get worse before they get …
31st March 2009
This report is only available as a PDF. Click to download. … Euro-zone Flash CPI & German Unemployment (Mar.) …
This report is only available as a PDF. Click to download. … Euro-zone EC Survey (Mar.) …
30th March 2009
This report is only available as a PDF. Click to download. … Euro-zone economy to contract by 4% this year …
This report is only available as a PDF. Click to download. … German CPI (1st Est. Mar.) …
27th March 2009
With the euro-zone recession still gathering pace, we see the ECB cutting interest rates by another 50 basis points to 1.0% this month. Indeed, it should not be long before rates reach 0.5%. But the key issue is what indications the Bank will give that it …
26th March 2009
The latest euro-zone money supply figures further support the view that the ECB’s injections of short-term liquidity into the banking sector will not be sufficient on their own to encourage banks to increase their lending into the wider economy. … …
The Norges Bank’s decision to cut interest rates by a further 50 basis shows that it remains committed to preventing a major economic downturn. But with the economy set to experience a much milder recession that its European neighbours, the Bank is …
25th March 2009
This report is only available as a PDF. Click to download. … German Ifo Survey (Mar.) …
The Norges Bank’s decision to cut interest rates by a further 50 basis shows that it remains committedto preventing a major economic downturn. But with the economy set to experience a much milderrecession that its European neighbours, the Bank is unlikely …
This report is only available as a PDF. Click to download. … Euro-zone Flash PMIs (Mar.) …
24th March 2009
This report is only available as a PDF. Click to download. … Euro-zone Trade Balance (Jan.) …
23rd March 2009
This report is only available as a PDF. Click to download. … Rise in core inflation will be short-lived …
This report is only available as a PDF. Click to download. … Euro-zone Industrial Production (Jan.) …
20th March 2009
The Federal Reserve’s decision to embark on an even bolder program of quantitative easing has left the ECB apparently lagging still further behind other central banks in tackling the economic crisis. We see no insurmountable barriers to similar action in …
19th March 2009
At first sight, the latest industrial production figures from Italy suggest that the sector may be weathering the global economic downturn rather better than some of the other major euro-zone economies. But we think that this largely reflects a number of …
18th March 2009
This report is only available as a PDF. Click to download. … German ZEW Survey (Mar.) …
17th March 2009
