Europe Data Response Euro-zone Flash CPI (Jul.) & Unemployment (Jun.) July’s increase in euro-zone inflation probably reflected developments in energy and food prices, while core inflation remained low. The still high rate of unemployment in the region points to further... 30th July 2010 · 1 min read
ECB Watch A more positive tone, but tighter policy is distant The ECB’s decision to tighten future lending criteria and the fact that its bond purchases have ground to a near halt suggest that the Bank is again phasing out its unconventional policy support. The... 29th July 2010 · 1 min read
Europe Commercial Property Chart Pack Euro-zone investment market recovery under pressure (Jun 10) The gradual recovery in European commercial property investment volumes extended into Q2 2010. As a result, with the exception of Greece, property yields were either stable or fell slightly in all... 29th July 2010 · 1 min read
Europe Data Response Euro-zone EC Survey (Jul.) July’s improvement in the EC consumer and business surveys adds to the evidence that the euro-zone is performing surprisingly well. But divergences between the region’s economies are widening. 29th July 2010 · 1 min read
Europe Economic Outlook Stronger surface hides widening cracks (Q3 10) The recent news on the European economy has defied the ongoing concerns over the fiscal crisis in the peripheral countries of the euro-zone. But the recovery in the export and industrial sectors could... 28th July 2010 · 1 min read
Europe Data Response German CPI (1st Est. Jul.) July’s increase in German HICP inflation, from 0.8% to 1.2%, was probably driven by a temporary rise in the energy and food components. With core inflation still very subdued and likely to remain so... 28th July 2010 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jul.) The EU bank stress tests have provided some encouraging signs that parts of the euro-zone banking system may be in better health than feared. But as yet there is little sign that banks are becoming... 27th July 2010 · 1 min read
Europe Economics Weekly Stress tests are no silver bullet Attention last week centred again on the bank stress tests, which were due for publication on Friday. While the results were unavailable at the time of writing, it already seemed clear that they would... 26th July 2010 · 1 min read
Europe Commercial Property Update Italy: the best of a bad bunch? The Q2 2010 RICS global commercial property survey points to a divergence in commercial property performance between Italy and the rest of the so-called “PIIGS”. That is consistent with our view that... 26th July 2010 · 1 min read
Europe Economics Update Bank stress tests leave unanswered questions The EU bank stress tests may have helped to reduce uncertainties around the health of Europe’s largest banks’ balance sheets. But concerns remain over the way the tests were constructed and we are... 26th July 2010 · 1 min read
Europe Data Response German Ifo Survey (Jul.) & French Consumer Spending (Jun.) July’s rise in the German Ifo index suggests that the economy is performing very well despite signs of a slowdown in the US and elsewhere. But June’s fall in French consumer spending confirmed that... 23rd July 2010 · 1 min read
Europe Economics Update Germany to the rescue? Germany’s export-led recovery appears to be going from strength to strength. But while this is clearly good news, a domestic revival would be required to ensure a strong and sustained pick-up in the... 22nd July 2010 · 1 min read
Europe Commercial Property Update Latest rise in Greek property yields is unlikely to be the last The fact that rises in Greek property yields have accelerated recently highlights the increasing perception of investment risk associated with the country. And with fears of a government default... 22nd July 2010 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jul.) July’s rise in the euro-zone composite PMI suggests that, for now at least, the region is (perhaps surprisingly) evading the threat of a double-dip recession apparently facing the US and UK. 22nd July 2010 · 1 min read
Europe Economics Weekly Industrial divergences likely to grow Last week’s euro-zone industrial data provided further evidence that the recovery in the sector remains on track. But it also added to worries that divergences within the region are building and that... 19th July 2010 · 1 min read
Europe Data Response Euro-zone Trade Balance (May) Euro-zone exports continued to recover in May. But as the global economic revival loses momentum, weaker export growth will exacerbate the negative effects of the fiscal squeeze on the wider economy. 16th July 2010 · 1 min read
