Europe Data Response Norwegian GDP (Q3) Q3’s reasonably solid gain in GDP maintained Norway’s position as the strongest of the Nordic economies. But signs of weaker household spending and the likely negative effects of lower oil prices... 20th November 2014 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Nov.) November’s fall in the euro-zone composite PMI was a serious blow to hopes that the recovery would resume towards the end of the year. 20th November 2014 · 1 min read
Nordic & Swiss Data Response Norwegian GDP (Q3 14) Q3’s reasonably solid gain in GDP maintained Norway’s position as the strongest of the Nordic economies. But signs of weaker household spending and the likely negative effects of lower oil prices... 20th November 2014 · 1 min read
Nordic & Swiss Economics Focus Will lower oil prices end Norway’s long boom? Norway has been one of the strongest growing economies of the developed world over the last decade. But with households buckling under high debt burdens and lower oil prices set to exacerbate the... 20th November 2014 · 1 min read
Commodities Update Will ECB or SNB purchases boost the gold price? Hopes that the European Central Bank (ECB) will include gold on the list of assets to be purchased as part of a programme of full-blown quantitative easing (QE) will almost certainly be disappointed... 19th November 2014 · 1 min read
Europe Commercial Property Update Low office development supports Vienna rental values Office rental values in Vienna have ticked up over 2014 despite weak take-up. That seems to be down to the low availability of modern office space, as companies seek efficiency savings in light of the... 19th November 2014 · 1 min read
Europe Economics Update Which assets should the ECB buy? An effective ECB QE programme would probably involve large-scale purchases of higher-yielding and long-term debt, including both government bonds and private sector assets. But we suspect that the... 19th November 2014 · 1 min read
US Economics Update Is QE in Japan and Europe good or bad for the US? Although the Fed recently concluded its quantitative easing (QE), the Bank of Japan has announced an expansion in the pace of its own asset purchases and the ECB is edging closer to full-blown QE. We... 18th November 2014 · 1 min read
Europe Economics Update Falling oil prices to tip the euro-zone into deflation The recent drop in oil prices looks set to tip euro-zone CPI inflation into negative territory over the coming months, increasing the risk of a prolonged and damaging bout of deflation. 18th November 2014 · 1 min read
Global Economics Update How would QE in the euro-zone affect the rest of the world? If and when the ECB implements “full-blown QE”, there may be some positive spillovers for the rest of the world, but they would not be large. Countries elsewhere in Europe would benefit most from... 18th November 2014 · 1 min read
Europe Economics Update Debt still a drag on Dutch household spending The improvement in Dutch consumer confidence and upturn in the housing market suggest that the near stagnation of consumer spending in Q3 need not be a sign of things to come. But continued fiscal... 18th November 2014 · 1 min read
Europe Data Response German ZEW Survey (Nov.) November’s rise in German ZEW investor sentiment came as a modest relief after the recent gloomy news on the euro-zone. But the index has not been very reliable in the past and it remains consistent... 18th November 2014 · 1 min read
Europe Economics Update Greece exits recession but big challenges remain While it is welcome news that the Greek economy has finally started growing again after seven years of recession, the recent GDP figures have not solved two of its, arguably biggest, problems: its... 17th November 2014 · 1 min read
Europe Data Response Euro-zone Trade (Sep.) The widening of the euro-zone trade surplus to a new record in September was an encouraging sign that exporters are starting to benefit from the weaker euro. But the ECB will need to deliver on hints... 17th November 2014 · 1 min read
Europe Economics Weekly The periphery catches up – oh dear One notable element of last week’s euro-zone GDP figures for the third quarter was the strength of the peripheral economies, even Greece, in relation to the core. This might be seen as confirmation... 14th November 2014 · 1 min read
Europe Data Response Euro-zone GDP (Q3 Prov.) The small expansion in the euro-zone economy in Q3 has not diminished the need for both the European Central Bank (ECB) and national governments to respond to the persistent risk of deflation in the... 14th November 2014 · 1 min read
