Europe Economic Outlook Stalled recovery adds to pressure on policymakers The European economic recovery has weakened, with the euro-zone now at risk of recession and countries outside the region feeling the effects on their exports. While the euro-zone’s peripheral... 13th October 2014 · 1 min read
Europe Economics Weekly Germany needs more stimulus for its own sake Recent renewed calls for the German Government to take advantage of its fiscal room for manoeuvre in order to stimulate its economy have centred on the potentially beneficial effects on its weaker... 10th October 2014 · 1 min read
Europe Commercial Property Update Where next for prime office yields in Switzerland? Despite a weak outlook for the occupier markets, we expect Swiss prime office yields to mark time at their current levels for at least another 12 to 18 months as bond yields stay close to historic... 9th October 2014 · 1 min read
Europe Commercial Property Update Is now the time to be buying Spanish industrial assets? Gradually improving economic growth and tightening supply in prime locations is set to produce rental growth in the next 12 months. With industrial yields elevated relative to both office yields and... 8th October 2014 · 1 min read
Europe Data Response German Industrial Production (Aug.) August’s big drop in industrial production all but confirmed that German industry is back in recession and underlined the need for both the ECB and the German Government to give the euro-zone’s... 7th October 2014 · 1 min read
Europe Economics Focus Will the euro-zone ever escape abnormality? Don’t be fooled by the apparent normalisation of the euro-zone’s financial markets. Conditions in the currency union’s economy are still a very long way from normal. 6th October 2014 · 1 min read
Europe Economics Weekly Is the ECB already doing QE? The ECB confirmed last week that it will start to buy assets outright later this month and that the purchases will not be sterilised. But technically, this probably still amounts to credit easing... 3rd October 2014 · 1 min read
Europe Data Response Euro-zone Retail Sales (Aug.) & Final PMIs (Sep.) August’s increase in euro-zone retail sales provided a positive sign for consumer spending. But with September’s PMIs revised down in the final estimates, there is more evidence that the euro-zone... 3rd October 2014 · 1 min read
Europe Economics Update Why haven’t euro-zone exports recovered more strongly? The persistent weakness of euro-zone exports seems to have reflected the high level of the euro, tradelinks with Emerging Europe and cost and regulatory pressures on the region’s exporters. While... 3rd October 2014 · 1 min read
Europe Economics Update ECB’s Draghi suggests QE is on its way President Mario Draghi hinted strongly that a deterioration in the inflation outlook in the coming months would result in the ECB taking bolder, unconventional policy action, leaving the door wide... 2nd October 2014 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Sep.) Smaller budget deficits were seen in most of the peripheral economies in August, but France’s fiscal position continued to deteriorate. 2nd October 2014 · 1 min read
Europe Chart Pack Economic weakness spreads to Germany The latest survey indicators seem to have confirmed that the euro-zone’s feeble recovery has already passed its peak. September’s fall in the composite PMI, for example, left it consistent with a... 1st October 2014 · 1 min read
Europe Data Response Euro-zone Flash CPI (Sep.) & Unemployment (Aug.) September’s fall in euro-zone inflation to a whisker above zero and August’s weak labour market data will add to the pressure on the ECB to signal further policy support at its meeting this Thursday. 30th September 2014 · 1 min read
Europe Data Response Euro-zone EC Survey (Sep.) September’s EC Business and Consumer Survey added to the evidence that the eurozoneeconomy struggled to pick up in Q3, after stagnating in Q2. 29th September 2014 · 1 min read
Europe Economics Weekly Euro's drop doesn't let ECB off the hook The continued depreciation of the euro exchange rate points to much-needed increases in export growth and imported inflation in the coming months. But this does not eliminate the risk of deflation and... 26th September 2014 · 1 min read
ECB Watch Preparing the ground for QE The ECB now seems to be taking deflation risks more seriously, implementing surprise interest rate cuts in September and leaving the door wide open to quantitative easing. With the economy apparently... 25th September 2014 · 1 min read
