Europe Data Response German Flash CPI (Oct.) October’s German CPI data confirmed that, even in the euro-zone’s best-performing economy, price pressures remain very subdued. 27th October 2010 · 1 min read
Europe Economics Update Will the proposed Irish budget cuts be big enough? The Irish Government’s announcement that it will implement an additional fiscal squeeze worth €7.5bn (4.8% of GDP) over the next four years is a big step in the right direction. But we think that... 27th October 2010 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Oct.) The latest euro-zone broad money and credit data provide further signs that the problems in the banking sector may be easing. Nonetheless, credit growth remains very weak and supports our view that... 27th October 2010 · 1 min read
Nordic & Swiss Economics Update Swedish Riksbank hikes rates and signals more to come Despite the krona’s recent strength, the Swedish Riksbank raised interest rates for the third time in four months. Although further hikes are inevitable, we expect the pace of tightening to ease... 26th October 2010 · 1 min read
Europe Economics Update Swedish Riksbank hikes rates and signals more to come Despite the krona’s recent strength, the Swedish Riksbank raised interest rates for the third time in four months. Although further hikes are inevitable, we expect the pace of tightening to ease... 26th October 2010 · 1 min read
Europe Economics Weekly Still battling to achieve fiscal stability Last week was characterised by fairly downbeat news on economic activity and ongoing struggles to achieve fiscal goals. Although the German business surveys remained positive, October’s fall in the... 25th October 2010 · 1 min read
Europe Data Response German Ifo Survey (Oct.) October’s rise in the German Ifo survey suggests that the economy is defying the global gloom for now. But while the economy should grow by 3% or more this year, we still see weaker exports prompting... 22nd October 2010 · 1 min read
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
