Europe Economics Weekly Will deflation settle the ECB debate? The commencement last week of the German Constitutional Court hearing into the legality of the European Central Bank’s Outright Monetary Transactions (OMTs) programme has re-stoked the debate over the... 17th June 2013 · 1 min read
Europe Commercial Property Update Hopes that CEE investment had turned a corner are dashed The likely drop in Central & Eastern European (CEE) investment volumes in Q2 will have dashed any hopes that the trend for activity might have turned a corner. Moreover, the recent sell-off in... 13th June 2013 · 1 min read
Europe Economics Update The external adjustment has only just begun Most peripheral euro-zone economies have made impressive progress in narrowing their current account deficits. But so far this is only a correction in flows; theses economies have made little or no... 12th June 2013 · 1 min read
Europe Data Response Euro-zone Industrial Production (Apr.) The solid rise in euro-zone industrial production in April suggests that the sector will expand in Q2. But industry is unlikely to spearhead a wider economic recovery. 12th June 2013 · 1 min read
Europe Data Response French & Italian Ind. Production (Apr.)/ Italian GDP (Q1) Italian GDP figures for Q1 confirmed that the economy remained in a broad-based recession and April’s fall in industrial production pointed to another contraction in Q2. Thankfully, French industrial... 10th June 2013 · 1 min read
Europe Economics Weekly Is the Troika learning from its mistakes? While the IMF conceded last week that mistakes were made in Greece’s 2010 bail-out programme, it suggested that earlier debt restructuring was the way forward rather than bigger bail-outs. Meanwhile... 10th June 2013 · 1 min read
Europe Data Response German Industrial Production & Trade (Apr.) Increases in German industrial production and exports in April have boosted the chances that the very modest recovery seen in Q1 might gain pace in Q2. 7th June 2013 · 1 min read
Europe Commercial Property Update Are Czech industrial rents about to pick up? Recent Czech data seem to show that activity in the external sector is on the up. That bodes well for Czech industrial property. But the domestic economy is still fragile and demand from consumer... 6th June 2013 · 1 min read
Europe Economics Update ECB keeps its options open After leaving interest rates on hold, the ECB left the door open to more policy support, suggesting that more LTROs, negative deposit rates, forward policy guidance and stimulation for Asset-Backed... 6th June 2013 · 1 min read
Europe Chart Pack Surveys still point to continued recession Some of the euro-zone business surveys have had a slightly stronger tone over the last couple of months. Nonetheless, at current levels, they remain consistent with a further contraction in activity... 5th June 2013 · 1 min read
Europe Commercial Property Update What is the outlook for Brussels retail property? The growing differential between office and retail yields in Brussels does not seem sustainable. But if, as we suspect, it primarily reflects investors’ views that retail has the best defensive... 5th June 2013 · 1 min read
Europe Data Response Euro-zone GDP (Q1), Final PMI & Retail Sales The breakdown of Q1 GDP and more timely news on retail sales and the PMI provided little obvious support for the ECB’s view that the euro-zone economy is set to embark on a decent recovery later in... 5th June 2013 · 1 min read
Europe Economics Weekly Pressure grows on the ECB to do more Although euro-zone businesses and consumers are becoming less pessimistic and policymakers are softening their stance on austerity, there is still little sign that the region is on the cusp of an... 3rd June 2013 · 1 min read
Europe Data Response Euro-zone Flash CPI (May 13) & Unemployment (Apr. 13) April’s rise in unemployment and the fact inflation remained well below target in May will add to the pressure on the ECB to provide more policy support. 31st May 2013 · 1 min read
Europe Data Response Danish GDP (Q1) The Danish economy rebounded in Q1 after its very weak finish to last year, but we doubt that the recovery will last long. 31st May 2013 · 1 min read
Nordic & Swiss Data Response Danish GDP (Q1 13) The Danish economy rebounded in Q1 after its very weak finish to last year, but we doubt that the recovery will last long. 31st May 2013 · 1 min read
