Europe Commercial Property Focus Which markets offer the best relative value to investors? With government and corporate bond yields at all-time lows in most of Europe and equity dividend yields close to their long-term averages, European commercial property looks relatively well-priced... 8th October 2015 · 30 mins read
Europe Economics Focus Is the Greek crisis finally over? This Focus takes a detailed look at the outlook for Greece after the implementation of its third bailout and concludes that the country’s six-year crisis is far from over. Indeed, a Grexit is still... 7th October 2015 · 1 min read
Europe Data Response German & Spanish Industrial Production (Aug.) August’s sharp falls in German and Spanish industrial production suggest that weakness in emerging economies may have caused their GDP growth to slow in Q3. 7th October 2015 · 1 min read
UK Economics Focus What would Brexit mean for the UK economy? We doubt that the UK’s outlook hinges on the Brexit question. Things have changed a lot since 1973, when joining the European Union (EU) was a big deal for the UK. We think that the UK economy will do... 6th October 2015 · 1 min read
Europe Economics Update Election result doesn’t alter Portugal’s challenging outlook While the re-election of Portugal’s centre-right coalition appeared to be an endorsement of the austerity stance it has taken, its failure to secure a parliamentary majority means that it may struggle... 5th October 2015 · 1 min read
Europe Commercial Property Update What do competitiveness rankings tell us about property pricing? There is a decent correlation between economic competitiveness and property pricing across Europe. Yet while some markets look mispriced based on this comparison, that’s partly explained by the fact... 5th October 2015 · 1 min read
Europe Data Response Euro-zone Retail Sales (Aug.) & Final PMIs (Sep.) August’s euro-zone retail sales data suggest that the consumer recovery remained on track. And the final PMIs point to quarterly GDP growth remaining at around 0.4% in Q3. But September’s monthly fall... 5th October 2015 · 1 min read
Europe Economics Weekly How did the euro-zone economy perform in Q3? The hard data available so far for Q3, as well as the more timely activity surveys, suggest that the economy performed fairly well last quarter. GDP growth probably maintained its pace from Q2 and may... 2nd October 2015 · 1 min read
Europe Chart Pack Is the consumer recovery running out of steam? The consumer outlook has dimmed slightly over the summer, suggesting that the economic recovery needs to become more broad-based if it is to gain momentum. The Q2 GDP breakdown showed that the... 1st October 2015 · 1 min read
Europe Commercial Property Update Is rising supply a threat to Central European industrial rental values? Buoyed by strong economic conditions, industrial occupiers in Central Europe are expanding, leading to falling vacancy and rising rents. However, supply is responding. We expect this to curb rental... 1st October 2015 · 1 min read
Europe Economics Update Current account adjustments not just cyclical The improvement in most peripheral countries’ current account positions since the financial crisis should not be fully reversed as their economies recover. However, if and when Greece returns to... 1st October 2015 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Sep.) The euro-zone’s peripheral economies appear to have strengthened their fiscal positions further in the year to August. But for most, this year’s budget targets still look ambitious. 30th September 2015 · 1 min read
Europe Economics Update Icelandic interest rates on hold, but more hikes to come Today’s decision by Iceland’s central bank to leave its main interest rates on hold merely marks a pause for breath in its tightening cycle. We think that further rate rises will be needed before the... 30th September 2015 · 1 min read
Europe Data Response Euro-zone Flash CPI (Sep.) & Unemployment (Aug.) The return of inflation to negative territory in the euro-zone, as well as the continued high rate of unemployment, will heap further pressure on the ECB to increase its stimulus. 30th September 2015 · 1 min read
Nordic & Swiss Economics Update Icelandic interest rates on hold, but more hikes to come Today’s decision by Iceland’s central bank to leave its main interest rates on hold merely marks apause for breath in its tightening cycle. We think that further rate rises will be needed before the... 30th September 2015 · 1 min read
Global Markets Update Will China fuel a recovery in German automobile shares? While the emissions scandal has been responsible for the recent plunge in the share price of Volkswagen Group, the bigger picture is that the share prices of German car manufacturers have been sliding... 29th September 2015 · 1 min read
