Europe Data Response Belgian GDP (Q3) Belgian GDP rose for the second straight quarter in Q3, suggesting that euro-zone GDP recorded another moderate expansion too. 30th October 2013 · 1 min read
Europe Economics Update Risks too great for Cyprus to fully relax capital controls Although Cyprus has already begun to gradually relax its capital controls, restrictions on deposits leaving the country remain in place. With a fragile banking sector and an economy deep in recession... 30th October 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Oct.) On balance, the smaller peripheral economies in the euro-zone are still making inroads into their budget deficits, but there are some signs that Italy and Spain are faring a bit less well. 29th October 2013 · 1 min read
Europe Economics Weekly Euro-zone still on track for a grinding recovery Although the Bank of Spain’s Q3 GDP estimate suggested that Spain may have exited its two-year recession, the fall in the euro-zone composite PMI in October highlighted that the region’s economic... 28th October 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) September’s euro-zone monetary data perhaps offered tentative signs that the fall in bank lending is easing, but a decent pick-up in credit remains a distant prospect. 25th October 2013 · 1 min read
Europe Data Response German Ifo Survey (Oct 13.) The fall in German Ifo business sentiment in October provided another timely reminder that the euro-zone recovery remains fragile. 25th October 2013 · 1 min read
Global Markets Update Will the euro-zone recovery lift equity earnings? The depressed level of euro-zone aggregate corporate earnings largely reflects the weakness of the region’s economy. While we continue to think that the recovery in GDP will be unspectacular, a... 24th October 2013 · 1 min read
Europe Commercial Property Update Low interest rates supportive of Stockholm office values... for now Stockholm's office market appears to be in relatively good shape. Economic sentiment is rising, credit conditions for commercial property are strengthening, while this morning's decision by the... 24th October 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Oct.) Despite falling in October, the euro-zone PMIs suggest that the region’s modest expansion continued at the start of Q4. 24th October 2013 · 1 min read
Europe Economics Update Swedish and Norwegian rates on hold until 2015 As expected, both the Swedish Riksbank and Norway’s Norges Bank both held their policy rates unchanged today. Given our below-consensus outlook for both economies, we do not expect either to hike... 24th October 2013 · 1 min read
Nordic & Swiss Economics Update Swedish and Norwegian rates on hold until 2015 As expected, both the Swedish Riksbank and Norway’s Norges Bank both held their policy ratesunchanged today. Given our below-consensus outlook for both economies, we do not expect eitherto hike rates... 24th October 2013 · 1 min read
Europe Data Response Euro-zone Flash Consumer Confidence (Oct. 13) The rise in euro-zone consumer confidence in October adds to signs that the euro-zone recovery is gradually improving. However, we think that a strong and sustained recovery in consumer spending is... 23rd October 2013 · 1 min read
Europe Economics Update Is Spain really on the path to recovery? Q3’s GDP estimate from the Bank of Spain suggests that the economy has finally emerged from its two year long recession. But we doubt that the economy will generate a strong enough recovery to bring... 23rd October 2013 · 1 min read
Europe Economics Focus Can the euro-zone enjoy a "creditless recovery"? The recent pick-up in the euro-zone economy stands in marked contrast to the accelerating contraction in bank credit. Given the importance of banks to the region, a “creditless recovery” will not be... 21st October 2013 · 1 min read
Europe Economics Update Will Italian government bond spreads continue to fall? Given the recent run of positive economic news from the euro-zone, it is perhaps no surprise that the spread between Italian and German government bond yields has narrowed. But we remain concerned... 21st October 2013 · 1 min read
Europe Economics Weekly Euro strength threatens recovery prospects Euro-zone policymakers took another step along the path towards banking union last week, while the resolution of the US shutdown debacle appeared to remove an external threat to the region’s fragile... 21st October 2013 · 1 min read
