Europe Data Response German Ifo Survey (Feb.) & French Consumer Spending (Jan.) The latest data add to the recent run of bad news. With German Ifo business sentiment falling in February and French consumer spending dropping in January, there is little hope that the euro-zone... 23rd February 2010 · 1 min read
Japan Economics Update Is Japan the next Greece? Japan should be able to avoid the sort of crisis that has hit Greece so hard. Government debt may be even larger in Japan, but the country is in a much stronger position in almost every other respect. 22nd February 2010 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Lacklustre economies weigh on occupier markets (Feb 10) Rental values in most sectors and locations either fell or were unchanged in Q4. The sharpest declines occurred in the industrial sector. Scandinavia led a recovery in the investment market and... 22nd February 2010 · 1 min read
Emerging Europe Economics Update Greek tragedy to temper EMU expansion Recent events in Greece have fundamentally weakened the economic arguments in favour of a rapid expansion of the euro-zone to include EU member states in the East. Political appetite for euro-area... 22nd February 2010 · 1 min read
Europe Economics Weekly Weaker euro to offer exporters little respite The latest news from the euro-zone external sector suggests that although exports are expanding strongly, the strong euro is taking its toll on the sector. The recent weakening of the euro is... 22nd February 2010 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Feb.) The euro-zone composite PMI was unchanged in February, adding to evidence that the economy probably expanded at a fairly lacklustre pace at the start of this year. 19th February 2010 · 1 min read
Europe Data Response Norwegian GDP (Q4) Q4’s disappointing GDP figures suggested that the Norwegian economy is still in a reasonably fragile state. Accordingly, the Norges Bank risks derailing the recovery if it raises interest rates too... 18th February 2010 · 1 min read
Europe Commercial Property Update Increased supply will weigh on Italian office rental values Although office rental values in Italy have held up reasonably well over the past eighteen months, a slow recovery in the economy and a rise in development completions suggest that this will not last... 18th February 2010 · 1 min read
Europe Economics Update Is Belgium the Greece of the North? Despite growing fairly solidly in the last two quarters, Belgium shares some worrying similarities with Greece and the other troubled Southern euro-zone economies. But its stronger trade position and... 17th February 2010 · 1 min read
Europe Data Response E-Z Trade Balance (Dec.) & Spanish GDP (Q4) December’s healthy rise in euro-zone exports suggests that exporters are continuing to cope with the strong euro. But the cost has been a sharp squeeze in firms’ margins. This casts doubts on whether... 17th February 2010 · 1 min read
Europe Data Response German ZEW Survey (Feb.) February’s fall in German ZEW investor sentiment is more bad news. But it probably reflects the euro-zone’s fiscal problems more than specific concerns about Germany. We still see the economy leading... 16th February 2010 · 1 min read
Europe Economics Update Greek economic woes grow as markets’ fears ease The fact that last week’s European Commission “accord” on Greece appears to have placated the markets temporarily is clearly encouraging for Greece. But with the Greek recession intensifying in Q4 and... 15th February 2010 · 1 min read
Europe Commercial Property Chart Pack Euro-zone Occupier Market Recovery Yet to Materialise (Feb 10) The euro-zone investment market recovery gained traction in the final quarter of 2009, as investor appetite for commercial property strengthened. However, there is still no evidence that a sustainable... 15th February 2010 · 1 min read
Europe Economics Weekly Is the recovery over before it’s begun? Last week’s EU “accord” on Greece was long on vague pledges of support, but notably short on detail. For now, the markets have given the EU the benefit of the doubt. But if more meat is not put on the... 15th February 2010 · 1 min read
UK Economics Update Greece’s problems are ours too Greece is the word in the financial markets at the moment. But aside from the potential for weak puns like that (“Greek tragedy”, “acropolis now” etc.), what do recent developments there mean for the... 12th February 2010 · 1 min read
Europe Commercial Property Update Europe’s fiscal crisis: how big a threat for commercial property? Although German bund yields, our preferred measure of risk-free rates, have held fairly steady, commercial property investors cannot afford to ignore the sharp rise in Greek, Portuguese, and to a... 12th February 2010 · 1 min read
