Europe Chart Pack Europe Chart Pack (January 2026) We expect euro-zone GDP to increase at a moderate pace this year and next. Germany’s fiscal stimulus is likely to be smaller, slower and less effective than many expect, while growth will be stronger... 12th January 2026 · 1 min read
Europe Economics Weekly On EU relations with the Western Hemisphere We suspect that European governments will prioritise their relationship with the US over concerns about Greenland’s sovereignty, not least because they are more focused on Nato and Ukraine. Meanwhile... 9th January 2026 · 5 mins read
Europe Rapid Response German Industrial Production (November) The rise in output in November confirmed that conditions in German industry improved towards the end of last year. But given the significant structural headwinds facing the sector, we doubt this is... 9th January 2026 · 2 mins read
Europe Rapid Response EC Economic Survey (Dec.) and Unemployment (Nov.) The EC business and consumer survey for December suggests that the euro-zone economy continued to expand at a moderate pace at the end of last year and shows that price pressures remain quite high. We... 8th January 2026 · 2 mins read
Europe Commercial Property Update Our key calls for 2026 The recovery in European commercial property values is set to slow this year given the soft economic growth backdrop and elevated interest rates. Our forecast for euro-zone all-property total returns... 7th January 2026 · 3 mins read
Europe Rapid Response Euro-zone HICP (December 2025) December’s small fall in headline inflation to 2.0%, and the likelihood that it will drop further in January, won’t alter ECB policymakers’ thinking. But if we’re right that headline and core... 7th January 2026 · 2 mins read
Europe Rapid Response Euro-zone national inflation data (December) National inflation data released so far suggest that euro-zone headline inflation fell below 2% in December and that the core rate edged down. ECB policymakers will take that as confirmation that... 6th January 2026 · 2 mins read
Europe Commercial Property Update Reviewing our key calls for 2025 The recovery in European property values in 2025 was broadly as we forecasted. However, the drivers differed slightly from our expectations, with a smaller-than-expected fall in prime property yields... 6th January 2026 · 3 mins read
Europe Economics Weekly ECB looking on the bright side The ECB was in a slightly festive mood this week as officials nudged up their forecasts for economic growth and inflation. We think this is only partly justified as we are sceptical about President... 19th December 2025 · 10 mins read
Europe Economics Update ECB still neutral on interest rates The tone of today’s ECB press conference was fairly bullish on the economic outlook, but Christine Lagarde stuck rigidly to neutral messaging on future interest rate decisions. While policy changes... 18th December 2025 · 3 mins read
Global Economic Outlook Muddling through The global economy enters 2026 under the influence of contrasting forces, which will result in moderate GDP growth overall but widening gaps in performance and policy. The economic benefits of AI will... 18th December 2025 · 45 mins read
Europe Rapid Response ECB Policy Announcement (December 2025) Today’s ECB press release suggests that the strength of recent economic data has not changed policymakers’ assessment of the monetary policy outlook. Changes in interest rates early next year look... 18th December 2025 · 2 mins read
Global Commercial Property Chart Pack Global Commercial Property Chartpack (Q4 2025) Global property returns have improved in 2025, though performance in APAC and the US has lagged Europe. This divergence is set to continue in 2026. However, we expect performance in the US will... 17th December 2025 · 0 mins read
Europe Rapid Response Germany Ifo Survey (December 2025) The fall in the German Ifo in December chimes with the drop in the Composite PMI and suggests that the long-awaited recovery in the German economy still has not materialised, with the fiscal stimulus... 17th December 2025 · 2 mins read
Europe Rapid Response Euro-zone Flash PMIs (December 2025) December’s flash PMI was a little weaker than the reading in November but is still consistent with the economy expanding moderately in the fourth quarter while inflationary pressures remain too high... 16th December 2025 · 2 mins read
Europe Economics Weekly Tempering the optimism Market moves over the past fortnight show that investors are becoming more optimistic about the euro-zone economy, but we are less bullish on the growth outlook. Meanwhile, the recent acceleration in... 12th December 2025 · 6 mins read
