Europe Data Response Spain & Austria GDP (Q3, 1st est.) Spain’s economic growth slowed a touch in the third quarter, suggesting that the country’s impressive recovery may be starting to lose a bit of steam. 30th October 2015 · 1 min read
Europe Commercial Property Update German office rental values set for further gains Across the main German cities unemployment rates are close to their lowest levels in decades. Office rents do not look particularly high, office employment is growing, occupier demand is expanding and... 29th October 2015 · 1 min read
Europe Data Response German Flash CPI (Oct.) October’s rise in German HICP inflation provided some reassurance that a prolonged period of deflation is not just around the corner. But there is still little sign of underlying price pressures in... 29th October 2015 · 1 min read
Europe Data Response EC Business & Consumer Survey (Oct.) October’s EC business and consumer survey suggested that the euro-zone’s economic recovery may have gathered some pace at the start of Q4. But it also showed that consumer inflation expectations... 29th October 2015 · 1 min read
Europe Economics Update Can the ECB really cut rates even further? While we have argued for some time that the ECB will expand its asset purchases in December, we now expect it to cut its deposit rate further into negative territory too. This seems unlikely to have... 28th October 2015 · 1 min read
Europe Economics Update Sweden’s Riksbank loosens policy but still more needed The decision by Sweden’s Riksbank to increase the size of its government bond-buying programme was clearly a response to the growing anticipation of more stimulus from the ECB. We think that these... 28th October 2015 · 1 min read
Europe Economics Update Weak inflation expectations add to pressure on ECB The dovish stance taken by the ECB in recent weeks has partly reflected its fear that inflation expectations have become unanchored from the near-2% target. Such concerns are justified, supporting... 28th October 2015 · 1 min read
Nordic & Swiss Economics Update Sweden’s Riksbank loosens policy but still more needed The decision by Sweden’s Riksbank to increase the size of its government bond-buying programme was clearly a response to the growing anticipation of more stimulus from the ECB. We think that these... 28th October 2015 · 1 min read
Europe Commercial Property Update Should we be more positive on prime retail rental growth in France? French consumer spending growth is set to gradually improve in the next few years. This will support better rates of retail sales and occupier demand growth than previously anticipated, leading us to... 27th October 2015 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) September’s euro-zone monetary data point to low inflation and continued slow growth, which is likely strengthen the conviction of policymakers at the ECB that more stimulus is needed. 27th October 2015 · 1 min read
Europe Economics Update Portugal’s austerity backlash seems set to continue Political wrangling in Portugal since its election has again highlighted the difficulty of imposing endless austerity on a weak economy. The fragile new Government will struggle to meet the European... 26th October 2015 · 1 min read
Europe Data Response German Ifo Survey (Oct.) October’s German Ifo survey echoed the message from other indicators that growth may be slowing, although the Volkswagen scandal seems to be having little impact on the car industry for now. 26th October 2015 · 1 min read
Europe Economics Weekly ECB QE expansion now more likely than ever ECB President Mario Draghi surprised many with his very dovish comments at the press conference that followed last week’s ECB Governing Council meeting. But he remained coy about what tools the Bank... 23rd October 2015 · 1 min read
UK Economics Weekly Both pros and cons of leaving EU often overstated Although he said that it would be “a bit of a yawner”, Bank of England Governor Mark Carney’s speech on the UK’s membership of the EU contained something for both the pro- and anti-Europe camps to... 23rd October 2015 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Oct.) October’s rise in the euro-zone composite PMI suggested that the region’s recovery continued at a modest pace at the start of Q4. But the fading boosts from the lower oil price and weaker euro point... 23rd October 2015 · 1 min read
Europe Economics Update ECB all but promises more support in December While the European Central Bank left monetary policy unchanged today, President Draghi gave even stronger-than-anticipated signals that the QE programme will be expanded in December. 22nd October 2015 · 1 min read
