Europe Economics Update Are Austrian banking troubles a sign of things to come? Recent developments in Austria underline how the worst has not yet passed for some of Europe’s banks. While the larger euro-zone countries are less vulnerable, we expect lending to fall in some of the... 16th December 2009 · 1 min read
Europe Economics Focus Will the euro-zone recovery spread to the domestic economy? While the euro-zone is benefiting from the improvement in global trade conditions, the big issue is whether this will translate into any lasting pick-up in the domestic economy. There are reasons for... 14th December 2009 · 1 min read
Nordic & Swiss Economics Update Swiss National Bank’s exit will be very gradual By announcing an end to its corporate bond purchases, the Swiss National Bank has become the latest to start phasing out its unconventional policy support. But its downbeat forecasts for economic... 10th December 2009 · 1 min read
Europe Commercial Property Update Italy’s exit from recession does not spell end to occupier downturn The breakdown of Italy’s Q3 GDP data provided some good news for its retail and industrial property markets. However, the full effects of the drop in output over the past 12-18 months have yet to be... 10th December 2009 · 1 min read
Europe Economics Update Swiss National Bank’s exit will be very gradual By announcing an end to its corporate bond purchases, the Swiss National Bank has become the latest to start phasing out its unconventional policy support. But its downbeat forecasts for economic... 10th December 2009 · 1 min read
Nordic & Swiss Economics Update Finland on track for a pretty healthy recovery Finland has been hit particularly hard by the global economic downturn, faring almost as badly as Ireland. Nonetheless, the foundations are in place for a reasonably strong recovery, suggesting that... 8th December 2009 · 1 min read
Europe Economics Update Greece heads deeper into the mire The dramatic market reaction to the downgrade of Greece’s credit rating from A- to BBB+ by Fitch today partly reflected concerns that Greek banks may in the future be unable to use Government bonds as... 8th December 2009 · 1 min read
Europe Economics Update Finland on track for a pretty healthy recovery Finland has been hit particularly hard by the global economic downturn, faring almost as badly as Ireland. Nonetheless, the foundations are in place for a reasonably strong recovery, suggesting that... 8th December 2009 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Weak economic recovery to hold back occupier markets (Dec 09) Initial yields were stable in Q3 in most non-euro European markets. Investment activity rose, albeit from a low base. Rental values dropped further in Q3, especially in office markets. The largest... 4th December 2009 · 1 min read
Europe Economics Focus How long will Ireland’s hangover last? There have recently been some encouraging signs that Irelands painful adjustment may be coming to an end. Nonetheless, considerable obstacles remain. We expect the economy to continue to contract in... 3rd December 2009 · 1 min read
Europe Economics Update ECB starting to phase out unconventional support The ECB confirmed today that it is phasing out its emergency lending to banks, and perhaps a bit more quickly than had been expected. But the Bank is still downbeat about the economic outlook and we... 3rd December 2009 · 1 min read
Europe Chart Pack Domestic spending still weak Q3’s GDP release confirmed that the euro-zone economy finally exited recession last quarter. But the expansion was largely down to a slower pace of destocking than in Q2. Unfortunately, despite the... 2nd December 2009 · 1 min read
Europe Economics Update German banks’ troubles need not prevent recovery Concerns about German banks have increased, with the Bundesbank estimating that further hefty losses are to come and the Government warning of a worsening credit crunch. But, for the time being at... 1st December 2009 · 1 min read
Europe Commercial Property Update Swedish economy continues to grow, but rental correction not over Recent Swedish GDP data confirmed the fragility of its economic recovery. In our view, the modest growth has done little to suggest that Sweden’s commercial property occupier market downturn is... 1st December 2009 · 1 min read
ECB Watch Treading carefully The ECB will probably confirm at the forthcoming press conference that December’s provision of 12- month bank loans will be the last. Together with possible hints about phasing out 6-month lending... 26th November 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Nov.) October’s euro-zone money supply figures provided few signs that the ECB’s unlimited provisions of liquidity are prompting any pick-up in broad money and bank lending. 26th November 2009 · 1 min read
