Europe Data Response Euro-zone Flash PMIs (June) June’s fall in the euro-zone Composite PMI to a 17-month low suggests that strong GDP growth in Q1 was not the start of a more pronounced economic recovery. Indeed, the PMI points to growth slowing... 23rd June 2016 · 1 min read
Europe Economics Update Norges Bank to cut interest rates in September The Norges Bank left its key policy rate unchanged today, but with the economy weak and inflation set to fall, we think that further loosening is on the way. 23rd June 2016 · 1 min read
Europe Commercial Property Update Rise in Athens retail rents doesn’t signal a wider market revival Prime retail rents in Athens moved sharply higher in the first quarter. However, a weak economic environment will limit further upside, while also keeping industrial and office rents in check. 23rd June 2016 · 1 min read
Europe Economics Update Would Brexit break Denmark’s currency peg? The Danish krone would probably face significant upward pressure in the event of a Brexit. But as the Danmarks Nationalbank has scope to loosen policy further, a Brexit is unlikely to break its euro... 22nd June 2016 · 1 min read
Europe Commercial Property Update Amsterdam office rents set to shrug off high vacancy rate Decent economic growth in the Netherlands in the next few years will support office occupier demand. Coupled with low availability for modern space this means that, rather than acting as a brake on... 22nd June 2016 · 1 min read
Europe Economics Update Brexit would push Swiss franc higher despite SNB’s efforts While the Swiss National Bank (SNB) has vowed to limit any impact on the franc if the UK votes to leave the EU tomorrow, we doubt that it has enough ammunition to prevent an appreciation. We think... 22nd June 2016 · 1 min read
Nordic & Swiss Economics Update Would Brexit break Denmark’s currency peg? The Danish krone would probably face significant upward pressure in the event of a Brexit. But as the Danmarks Nationalbank has scope to loosen policy further, a Brexit is unlikely to break its euro... 22nd June 2016 · 1 min read
Nordic & Swiss Economics Update Brexit would push Swiss franc higher despite SNB’s efforts While the Swiss National Bank (SNB) has vowed to limit any impact on the franc if the UK votes to leave the EU tomorrow, we doubt that it has enough ammunition to prevent an appreciation. We think... 22nd June 2016 · 1 min read
Europe Economics Focus Will further political uncertainty in Spain derail the recovery? If Spain’s upcoming election returns an anti-austerity coalition to power then there would probably be an immediate rise in government bond yields. But whatever the result, much-needed reforms are... 21st June 2016 · 1 min read
Europe Economics Update Would a Brexit trigger the ECB’s OMTs? Today’s ruling by the German constitutional court leaves the ECB free to implement its long-awaited OMT programme, if deemed necessary. And a possible trigger for OMTs – Brexit – might be just a few... 21st June 2016 · 1 min read
Europe Data Response German ZEW (Jun.) June’s ZEW survey suggests that investor sentiment towards the German economy has not been hit by the risk of Brexit so far and points to steady annual GDP growth. 21st June 2016 · 1 min read
Europe Commercial Property Update Rising consumer spending to lift Bucharest retail rents Prime retail rents in Bucharest have, so far, failed to benefit from the surge in retail sales. But with a robust economic outlook and international retailers increasingly attracted to city, we expect... 20th June 2016 · 1 min read
Europe Commercial Property Update Copenhagen industrial yields set for substantial falls by 2018 Copenhagen industrial yields have lagged behind the falls seen in the other sectors, as well as those seen for industrial assets in other cities. However, with the occupier market outlook now much... 17th June 2016 · 1 min read
Europe Economics Update Will Finland’s competitiveness pact boost the recovery? Finland’s competitiveness pact probably won’t boost employment by as much as the Government hopes. But it is still a positive move that should help to lower labour costs and boost output. 17th June 2016 · 1 min read
Nordic & Swiss Economics Update Will Finland’s competitiveness pact boost the recovery? Finland’s competitiveness pact probably won’t boost employment by as much as the Government hopes. But it is still a positive move that should help to lower labour costs and boost output. 17th June 2016 · 1 min read
Europe Economics Focus Will Greek debt ever be sustainable? The immediate risks surrounding Greece have receded once again, with the likely completion of its first review today set to trigger payment of its next loan tranche early next week. But our analysis... 16th June 2016 · 1 min read
