Europe Data Response Euro-zone EC Survey & German CPI estimate (Jun.) June’s EC Business and Consumer Survey added to signs that the euro-zone recovery could be nearing a peak when it has barely begun. 27th June 2014 · 1 min read
ECB Watch ECB on hold to gauge effect of new policies The ECB is very unlikely to unveil additional policy support at its policy meeting on 3rd July as it waits to judge the effect of the raft of measures announced in June. President Draghi is likely to... 26th June 2014 · 1 min read
Europe Commercial Property Update What is the outlook for Oslo retail rents? We expect household spending growth in Norway to be subdued by past standards as households grapple with exceptionally high levels of debt. Coupled with last year’s double-digit rental value increases... 25th June 2014 · 1 min read
Europe Economics Focus Can Italy really stop its debt rising? Contrary to official forecasts, Italy’s huge public debt is unlikely to fall over the coming years. Given the size of the economy, this will leave not only Italy in a very precarious position, but... 25th June 2014 · 1 min read
Europe Data Response German Ifo Survey (Jun.) June’s Ifo survey added to signs that German GDP growth may already be slowing at what should have been an early stage of the recovery. 24th June 2014 · 1 min read
Europe Economics Update PMIs highlight France’s stuttering recovery The French economy is probably faring a little better than June’s dreadful PMIs suggest. But more austerity and weak competitiveness mean that it will continue to weigh on the euro-zone’s recovery. 23rd June 2014 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jun.) June’s PMIs suggested that the euro-zone recovery only gained a little momentum in Q2 and highlighted the continued divergence between France and Germany. 23rd June 2014 · 1 min read
Europe Economics Weekly Weak wage growth adds to deflation risks Data last week revealed that euro-zone labour costs growth fell to just 0.9% in Q1, adding to evidence of deflationary pressure in the region. The fall in wage growth has not been confined to the... 23rd June 2014 · 1 min read
Europe Economics Update Norges Bank opening its eyes to weakening economy As we expected given signs of a slowdown in the energy sector, the Norges Bank pushed back its first projected rate hike until 2016. Although the krone weakened on the news, the economic slowdown may... 19th June 2014 · 1 min read
Europe Economics Update SNB on hold for now, but further action will be needed The Swiss National Bank (SNB) today maintained its strongly supportive policy stance, pledging to enforce the ceiling on the Swiss franc with “the utmost determination”. We think that the SNB will be... 19th June 2014 · 1 min read
Nordic & Swiss Economics Update SNB on hold for now, but further action will be needed The Swiss National Bank (SNB) today maintained its strongly supportive policy stance, pledging to enforce the ceiling on the Swiss franc with “the utmost determination”. We think that the SNB will... 19th June 2014 · 1 min read
Nordic & Swiss Economics Update Norges Bank opening its eyes to weakening economy As we expected given signs of a slowdown in the energy sector, the Norges Bank pushed back its first projected rate hike until 2016. Although the krone weakened on the news, the economic slowdown may... 19th June 2014 · 1 min read
Europe Commercial Property Update Lisbon office rental values will not see a Dublin-style rebound Based on historical patterns alone, it might seem that there is ample scope for a strong rebound in rental values in both Dublin and Lisbon. Yet once other economic factors are taken into account, the... 18th June 2014 · 1 min read
Europe Data Response German ZEW Survey (Jun.) & Euro-zone Labour Costs (Q1) June’s fall in ZEW economic expectations suggested that investors were unimpressed by recent ECB action and added to signs that the German recovery is nearing a peak. 17th June 2014 · 1 min read
Europe Economics Weekly Peripheral industry on its feet but not ready to run Industrial production is now expanding faster in the euro-zone’s periphery than in the core. While this reflects progress made towards restructuring in the peripheral economies, industry still faces... 16th June 2014 · 1 min read
Europe Data Response Euro-zone Trade (Apr.) & Employment (Q1) April’s euro-zone trade data suggested that the strong euro continues to undermine export growth, highlighting that the ECB still has more to do to support the recovery. 13th June 2014 · 1 min read
