Europe Data Response German Flash CPI (Sep.) & Consumer Confidence (Oct.) September’s rise in German HICP inflation appears to have reflected temporary energy and food effects. Core inflation remains extremely subdued and we still see the headline rate coming close to zero... 28th September 2010 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) The further rise in euro-zone annual broad money and credit growth is certainly an encouraging sign. But given the very low starting point and the fact that many peripheral banks are still struggling... 27th September 2010 · 1 min read
Europe Economics Weekly Markets' concerns about the periphery spiral higher Last week was another rollercoaster ride for the euro-zone’s periphery. Disappointing Irish and Portuguese data provided a timely reminder of the task that both governments face to put their public... 27th September 2010 · 1 min read
Europe Commercial Property Update Ireland's property market is a long way from recovery Yesterday’s disappointing Q2 Irish GDP figures support our view that the economy will stagnate at best over this year and next. Although commercial property prices have already fallen by more than 70%... 24th September 2010 · 1 min read
Europe Data Response German Ifo Survey (Sep.) September’s small rise in the German Ifo brings hope that the euro-zone’s largest economy is faring very well for now. But with export growth already slowing, we expect the index to follow the PMI... 24th September 2010 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Sep.) September’s plunge in the euro-zone PMI is the strongest sign yet that the eurozone recovery is rapidly losing momentum and that parts of the region may already have fallen back into recession. 23rd September 2010 · 1 min read
Europe Data Response Ireland GDP (Q2) Ireland’s disappointing GDP figures for Q2 support our view that the economy is a long way from staging a sustained recovery and will do nothing to ease markets’ fears about the health of the Irish... 23rd September 2010 · 1 min read
Europe Economics Update Spain not yet out of the woods Despite the markets growing more pessimistic about the prospects for Ireland and Portugal, bond yields in Spain have remained relatively stable, suggesting that concerns about its public finances have... 22nd September 2010 · 1 min read
Europe Economics Weekly Wage pressures to remain subdued Last week’s data brought further evidence of persistent weakness in euro-zone labour markets, with employment stagnating in Q2 and annual wage growth slowing. Admittedly, while pay cuts continued in... 20th September 2010 · 1 min read
Europe Economics Update Cautious SNB won't hike rates for some time yet Fears that domestic price pressures might prompt the Swiss National Bank to tighten monetary policy proved unfounded today as it left its interest rate target at 0.25%. The Bank’s tone was gloomier... 16th September 2010 · 1 min read
Europe Data Response Euro-zone Trade Balance (Jul.) July’s fall in euro-zone exports is another sign that GDP growth will weaken in Q3 after Q2’s strong expansion. And with exports set to slow further in the months ahead, a consumer revival would be... 16th September 2010 · 1 min read
Europe Commercial Property Update Will a lack of supply drive a recovery in European office rental values? A shortage of supply in the Central London office market is likely to drive relatively strong rental growth this year and next. In Europe, however, although office development pipelines have also been... 16th September 2010 · 1 min read
Europe Economics Update ECB's unconventional support is still crucial The recent pick-up in ECB bond purchases has been very small when compared to earlier acquisitions or to the size of the euro-zone economy. Meanwhile, its lending to commercial banks in the region as... 16th September 2010 · 1 min read
Europe Economics Update How reliable is the German ZEW survey? September’s slump in German ZEW investor sentiment was a worrying sign that the recovery is already faltering. Admittedly, it is a less reliable indicator of German GDP than business surveys like the... 15th September 2010 · 1 min read
Europe Data Response German ZEW (Sep.), EZ Ind. Prod'n (Jul.) & Labour Costs (Q2) The drop in German ZEW economic sentiment in September and July’s stagnation in euro-zone industrial production confirm that the euro-zone recovery is slowing again after Q2’s strong expansion. 14th September 2010 · 1 min read
Europe Commercial Property Update Further falls in euro-zone industrial rental values are likely The fact that the euro-zone industrial recovery appears to be losing momentum does not bode well for industrial occupier demand or rental values across the region. As such, our forecasts that falls in... 14th September 2010 · 1 min read
