Commodities Update PMIs to provide only limited support to commodity prices Despite the rise in the PMIs in both China and the euro-zone in July, the near-termoutlooks for industrial commodity and oil prices remain weak. Indeed, there arelingering concerns that the euro-zone... 24th July 2014 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jul.) The jump in the flash composite PMI in July suggested that euro-zone activity picked up at the start of Q3 but it is unlikely to alleviate concerns that the recovery in the euro-zone is already... 24th July 2014 · 1 min read
Europe Data Response Spanish GDP (Q2 est.) The Banco De Espana’s estimate that Spanish GDP rose by 0.5% in Q2 suggests thatSpain may have been one of the strongest euro-zone economies last quarter. But wedoubt that Spain’s recovery can... 23rd July 2014 · 1 min read
Europe Commercial Property Update What explains the weakness of Belgian and Italian investment? Belgium’s weak economic fundamentals mean it sits near the bottom of the rankings in terms of core euro-zone commercial property investment destinations. While Italy suffers from an even weaker... 22nd July 2014 · 1 min read
Europe Economics Update Fears of a German housing bubble are overblown German house price inflation is modest by international standards, housing remains affordable andmortgage debt is low. Accordingly, fears of overheating seem overdone and should not ultimatelyprevent... 21st July 2014 · 1 min read
Europe Economics Weekly ECB edging slowly towards quantitative easing ECB President Mario Draghi’s statement last week that “QE falls squarely in our mandate” was perhaps the strongest signal yet that the ECB is considering bolder policy support. But Bundesbank... 21st July 2014 · 1 min read
Europe Economics Update Subsidence in the French construction sector Construction is set to remain one of the worst performing parts of the French economy. The sector’sproblems are symptomatic of the challenges facing the broader economy. 18th July 2014 · 1 min read
Europe Economics Focus France to fall further behind Germany The recent underperformance of the French economy compared to Germany reflects fundamentalfactors that will drive an even greater wedge between the two economies over time. Thisdivergence will... 17th July 2014 · 1 min read
Europe Commercial Property Update A positive outlook for Dublin retail property The latest data showing that Dublin’s employment and housing market recovery are running ahead of the rest of Ireland bode well for retail occupier demand in the Irish capital. And, with tight supply... 17th July 2014 · 1 min read
Europe Data Response Euro-zone Trade (May) May’s euro-zone trade data provided some tentative signs that exports may bebeginning to pick up. But the external sector remains too weak to offset fears that thedomestic recovery is faltering at an... 16th July 2014 · 1 min read
Europe Economics Update New Government will keep Slovenian recovery on track Slovenia’s recent election looks set to produce a government that will dilute the country’s muchneededprivatisation programme. Nonetheless, on balance, the new administration will probably... 15th July 2014 · 1 min read
Europe Data Response German ZEW Survey (Jul.) July’s fall in German ZEW investor sentiment added to signs of a slowdown in theeuro-zone’s largest and strongest economy. 15th July 2014 · 1 min read
Europe Commercial Property Update CEE logistics capital values look set to rise Recent data confirm that a slowdown in euro-zone export orders has led to slowing of industrial production growth in the CEE region. Nevertheless, with rental values yet to rebound from post-crisis... 14th July 2014 · 1 min read
Europe Data Response Euro-zone Industrial Production (May) The sharp fall in euro-zone industrial production in May suggests that the recovery in the sector is flagging before it has even really begun, boding ill for the region’s overall economic recovery. 14th July 2014 · 1 min read
Europe Economics Weekly Don't bank on a German industrial resurgence Data published last week revealed that production fell in all four of the euro-zone’s largest economies in May. But the downturn in Germany has been most disappointing given hopes that this industrial... 14th July 2014 · 1 min read
Europe Economics Update Rise in Portuguese bond yields has further to run The recent rise in Portuguese government bond yields related to fears for its banking sector confirms that policymakers have done little to weaken the “doom loop” between banks and sovereigns in the... 10th July 2014 · 1 min read
