Europe Commercial Property Update Denmark and Sweden industrial rents set to outgrow Norway Norwegian manufacturing sector activity has slowed due to the drop in the oil price, whereas in Denmark and Sweden, output continues to grow steadily. Across the 2016-19 period, this will support... 6th May 2016 · 1 min read
Europe Economics Weekly EC’s sober forecasts are still too optimistic Last week’s EC Spring forecasts presented a pretty uninspiring picture of the euro-zone economy’s prospects. Despite the unprecedented degree of monetary policy support, growth is expected to slow... 6th May 2016 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Apr.) Full year general government figures for 2015 show that most euro-zone countries’ fiscal positions improved last year, although Portugal and Spain still fell short of their targets. Meanwhile... 5th May 2016 · 1 min read
Europe Chart Pack Strength of growth in Q1 unlikely to be sustained Euro-zone GDP rose by a healthy 0.6% in Q1, easily outpacing the expansions in the US and UK and following disappointingly slow growth in the second half of 2015. But the data look strong relative to... 5th May 2016 · 1 min read
Europe Data Response Euro-zone Retail Sales (Mar.) & Final PMIs (Apr.) March’s euro-zone retail sales data appear to confirm that strong consumer spending supported growth in Q1, but we doubt that this will be sustained. Indeed, April’s Composite PMI points to a slight... 4th May 2016 · 1 min read
Europe Economics Update Are Portugal’s fiscal problems over? Last week’s decision by DBRS to maintain its investment grade credit rating for Portugal has brought short-term relief. But with the economic recovery likely to slow this year and the public finances... 3rd May 2016 · 1 min read
Europe Commercial Property Update Investor outlook remains upbeat, despite fall in Q1 activity Investment activity across Europe declined in Q1. However, we don’t think that this is a sign of things to come this year. Indeed, investor sentiment remains upbeat, while strong capital flows are... 3rd May 2016 · 1 min read
Europe Commercial Property Update Positive capital markets drivers will support further yield falls A solid debt market and a high volume of capital chasing commercial property will keep bidding on prime assets competitive. Coupled with improving prospects for rental growth, we believe that this... 29th April 2016 · 1 min read
Europe Economics Update Anti-immigration stance would hurt Austria The first round result of Austria’s presidential election is testament to how polarising the issue of immigration has become in European politics. However, a crackdown on immigration could deny... 29th April 2016 · 1 min read
Europe Economics Weekly Euro-zone’s strong start won’t be sustained Q1’s surprisingly strong gain in euro-zone GDP provided a solid start to the year. But we suspect that the figures overstate the economy’s underlying pace of expansion and there is a clear risk of a... 29th April 2016 · 1 min read
Europe Data Response Euro-zone Preliminary Flash GDP (Q1) & Flash CPI (Apr.) The euro-zone’s new earlier (“preliminary flash”) estimate of GDP confirmed the message from country data that the economy regained some pace in Q1 after the slowdown in H2 last year. But growth is... 29th April 2016 · 1 min read
Europe Economics Update Spain will continue to miss its fiscal targets Political uncertainty and slowing growth imply that Spain’s budget deficit targets are too optimistic. As such, Spain looks set to breach the EU’s 3% deficit limit for at least two more years. And, in... 28th April 2016 · 1 min read
Europe Data Response German Flash CPI (Apr.) April’s fall in German consumer price inflation back to negative territory and the continued weakness of the core rate will further raise the pressure on the ECB to do more to hit its inflation target... 28th April 2016 · 1 min read
Europe Data Response EC Business & Consumer Survey (Apr.) April’s rise in euro-zone business and consumer confidence does not change the bigger picture that growth in the euro-zone appears to be slowing. 28th April 2016 · 1 min read
Europe Commercial Property Update German retail rents to rise despite moderation in consumption growth German consumption growth is set to moderate this year and next. However, due to demographic factors, prospects for retail sales in the main cities seem stronger than for Germany as a whole. Combined... 28th April 2016 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Mar.) March’s euro-zone monetary data suggest that economic growth remains fairly slow . While the ECB has since expanded its stimulus measures, we doubt that this will boost money and lending growth... 27th April 2016 · 1 min read
