Europe Economics Update EC’s endorsement won’t fully relieve Greek worries The European Commission’s endorsement of the Greek Government’s plan to get its public finances under control is unlikely to relieve market concerns over Greece’s position altogether. 3rd February 2010 · 1 min read
Europe Data Response Euro-zone Retail Sales (Dec.) & Final PMI (Jan.) December’s euro-zone retail sales figures suggested that total consumer spending fell in Q4, adding to signs that the overall recovery lost pace. What’s more, January’s final PMI survey pointed to... 3rd February 2010 · 1 min read
Europe Economics Update Is Greece close to breaking point? Fears that the further rise in Greek bond yields over the last week has stretched the public finances to breaking point may be a little over-done. Nonetheless, Greece still faces an enormous challenge... 2nd February 2010 · 1 min read
Europe Economics Update French consumers leading the way France is one of few economies that seem to be experiencing a consumer revival. Sadly, fiscal tightening will prevent the recovery from gaining much momentum. But a fairly healthy household sector... 1st February 2010 · 1 min read
Europe Economics Weekly Consumer outlook still cloudy A raft of data on the euro-zone consumer sector last week left the outlook still rather uncertain. The bad news was that unemployment rose further in December and wage growth looks set to drop. But... 1st February 2010 · 1 min read
Europe Data Response Euro-zone Flash CPI & Unemployment (Jan./Dec.) January’s flash euro-zone consumer prices figures further highlighted the distinct lack of inflation pressure in the region and offered hope that euro-zone consumers will escape the squeeze on... 29th January 2010 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jan.) December’s euro-zone money supply figures and January’s ECB Bank Lending Survey suggest that credit conditions in the region remain very tight, despite the ECB’s unlimited provision of liquidity to... 29th January 2010 · 1 min read
Europe Data Response Euro-zone EC Survey & German Unemployment (Jan.) January’s improvement in the EC euro-zone consumer and business survey was somewhat reassuring after the weaker tone of some of the recent other surveys. But we will need to see a sharper rise in... 28th January 2010 · 1 min read
ECB Watch Benign inflation outlook to keep rates on hold The ECB meeting on February 4th is likely to be uneventful, with interest rates on hold and no significant change to existing plans to gradually phase out unconventional support for the banking sector... 28th January 2010 · 1 min read
Europe Economics Update Is Greece really so much worse? The recent blow-out in Greek Government bond spreads seems to over-do the depth of its fiscal problems compared to those of other crisis economies like Ireland. But Greece has clearly lost the markets... 28th January 2010 · 1 min read
Europe Data Response German Consumer Prices (1st Est. Jan.) January’s fall in German consumer price inflation confirmed that households’ real incomes are being squeezed by much less than those elsewhere by rising prices. And inflation looks set to remain very... 27th January 2010 · 1 min read
Europe Commercial Property Update RICS survey upbeat on investment market, but not on rental values The RICS Global Commercial Property Survey released today confirmed that investment market activity in Western Europe rose in 2009Q4. It also indicated that the investment market recovery will be... 27th January 2010 · 1 min read
Europe Economics Update Portugal’s Budget won’t dispel market worries The markets and credit rating agencies had been looking to yesterday’s budget for confirmation that the Portuguese Government is prepared to follow other fiscally strained euro-zone economies in... 27th January 2010 · 1 min read
Europe Data Response German Ifo Survey (Jan.) & French Consumer Spending (Dec.) January’s sharper than expected increase in German Ifo business sentiment came as a relief after the deterioration in some other surveys lately. The rise in the composite Business Climate Index, from... 26th January 2010 · 1 min read
Europe Economics Update Will a delay in German tax cuts prevent the recovery? Hints from the German Government that promised income tax cuts could be put off until at least next year make a convincing consumer revival seem even less likely. But we still expect a relatively... 25th January 2010 · 1 min read
Europe Commercial Property Update Improvement in industry will be slow to feed through to rents The rise in industrial orders and production in the euro-zone in November is encouraging news for industrial property. However, with ample spare capacity in the sector, and the outlook for consumer... 25th January 2010 · 1 min read
