Europe Economics Update Why even Germany needs ECB support Some reporters have put recent hawkish remarks by Axel Weber, the Bundesbank’s ECB representative, down to the relative strength of the German economy. But even there, the economic outlook warrants... 21st October 2010 · 1 min read
Europe Commercial Property Update Is Paris' office rental recovery running out of steam? We suspect that Q3’s halt to Paris’ prime office rental recovery is a temporary blip on a generally upward trend. Indeed, although service sector sentiment has remained broadly flat for the past few... 21st October 2010 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Oct.) October’s fall in the euro-zone composite PMI adds to evidence that the recovery is stalling and that the external revival is failing to boost domestic spending. 21st October 2010 · 1 min read
Europe Commercial Property Update Falls in Dutch retail yields are starting to fizzle out Q3’s sharp slowdown in the pace of Dutch retail yield falls supports our view that there is little value left in the market. Although sound public finances and a solid labour market are positive... 20th October 2010 · 1 min read
Europe Data Response German ZEW (Oct.) October’s drop in German ZEW investor sentiment highlighted understandable concerns that the euro-zone’s growth engine might soon stall. 19th October 2010 · 1 min read
Europe Economics Update Housing revival unlikely to drive a consumer recovery There are early signs of a revival in euro-zone housing markets. Even in the periphery, the housing market seems to have passed its worst, which on the face of it, may provide some relief to consumers... 19th October 2010 · 1 min read
Europe Economics Weekly ECB sitting stubbornly on the sidelines The latest speech by Governing Council member Axel Weber has highlighted the growing divergence between the ECB and more pro-active central banks elsewhere. We hope that the Bank might yet take bolder... 18th October 2010 · 1 min read
Europe Data Response Euro-zone Trade (Aug.) & CPI (Final, Sep.) August’s euro-zone trade figures suggest that the region is coping with slowing global demand pretty well for now. But with the euro appearing increasingly likely to be a major loser in any global... 15th October 2010 · 1 min read
Europe Commercial Property Focus Brussels offices: a safe bet in uncertain times? The experience of the early 2000s was that the Brussels office market prospered in a weak macroeconomic environment. With the euro-zone economy now facing another protracted period of subtrend... 14th October 2010 · 1 min read
Europe Economic Outlook Fiscal tightening starts to bite (Q4 2010) The European economy has recently performed relatively well despite continued fears about public debt in parts of the region. But as global demand slows, the export recovery will falter, with the euro... 13th October 2010 · 1 min read
Europe Economics Update The implications of the French strike The French strike will probably have a smaller immediate effect on economic activity than the press might have you believe. However, it is the clearest sign yet that the euro-zone’s second largest... 13th October 2010 · 1 min read
Europe Data Response Euro-zone Industrial Production (Aug.) August’s healthy rise in euro-zone industrial production will help to ease concerns that the recovery in the sector is grinding to a halt. 13th October 2010 · 1 min read
Europe Economics Update Italian industrial sector defying gravity Recent news from Italy suggests that the industrial recovery is going from strength to strength. Nonetheless, we doubt that this marks the start of an Italian renaissance. Indeed, there are several... 11th October 2010 · 1 min read
Europe Economics Weekly How much will the strong euro hurt? The euro’s rise to a nine-month high against the US dollar last week suggests that the euro-zone has lost what may turn out to be the opening skirmishes of a global currency war. If the euro remained... 11th October 2010 · 1 min read
Europe Economics Update ECB not yet ready to increase its support The ECB maintained a fairly dovish tone today, pledging continued support for commercial banks and possibly more peripheral government bond purchases. But there was little to suggest that the Bank... 7th October 2010 · 1 min read
Europe Data Response German Industrial Production & French Trade (Aug.) The latest German industrial and French trade data suggest that, despite ongoing fears about the region’s periphery, the immediate risk of a “double dip” recession in the euro-zone as a whole is small... 7th October 2010 · 1 min read
