Europe Data Response Euro-zone GDP (Q3) The near-stagnation of the euro-zone economy in the third quarter underlines the fragility of the recovery and the growing dangers of a damaging bout of deflation in the region. 14th November 2013 · 1 min read
Europe Data Response Euro-zone Industrial Production (Sep 13.) September's fall in euro-zone industrial production indicates that the sector will have dragged on GDP growth in Q3 as a whole. 13th November 2013 · 1 min read
Europe Economics Update ECB has more work to do to tackle the strong euro Last week’s cut in ECB interest rates has helped to relieve some of the near-term upward pressure on the euro. But the central bank will have to work harder to stop the strong currency from snuffing... 12th November 2013 · 1 min read
Europe Economics Weekly ECB rate cut to provide only a little boost The ECB’s unexpected interest rate cut last week was certainly a pleasant surprise and suggests that it is not writing off the potential threat of deflation. But there was little in the press... 11th November 2013 · 1 min read
Europe Economics Update Rate cut welcome, but not a game-changer While the ECB’s largely unexpected decision to cut interest rates was welcome, the central bank cannot address the deep-seated problems still facing the currency union. 7th November 2013 · 1 min read
Europe Commercial Property Update Investment market recovery not warranted by occupier fundamentals Increased optimism in the euro-zone’s economic outlook may have prompted some investors to look through what they perceive to be the final stages of the occupier market downturn. But October’s fall in... 7th November 2013 · 1 min read
Europe Chart Pack ECB likely to soften stance but refrain from action The fall in euro-zone CPI inflation to a four year low of 0.7% has raised the prospect of a bout of outright deflation in the euro-zone economy. While cost pressures are not as weak as they were when... 6th November 2013 · 1 min read
Europe Data Response Euro-zone Retail Sales (Sep.) & Final PMIs (Oct.) October’s fall in the euro-zone composite PMI to 51.9 suggests that the recovery continued at the start of Q4, but at a sluggish pace. Furthermore, September’s retail sales data highlight that... 6th November 2013 · 1 min read
Europe Economics Update Should the ECB fear deflation? There are some good reasons why the ECB should be worried about the prospect of a bout of consumer price deflation in the euro-zone. But it is not clear that it has the firepower to prevent it. 4th November 2013 · 1 min read
ECB Watch A softer stance With the economic recovery still pretty fragile, the euro climbing higher and inflation falling sharply, President Draghi may adopt a slightly softer stance at the ECB’s interest rate press conference... 31st October 2013 · 1 min read
Europe Data Response Euro-zone Flash CPI (Oct.) & Unemployment (Sep.) The latest euro-zone inflation and unemployment figures provide another clear signal that the recovery is still very fragile and will increase pressure on the ECB to take further action to support the... 31st October 2013 · 1 min read
Europe Data Response Euro-zone EC Survey, German Unemp. (Oct.) & Spa. GDP (Q3) October’s rise in the EC’s euro-zone Economic Sentiment Indicator (ESI) suggests that the region’s modest recovery continued in the early stages of Q4. 30th October 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Oct.) On balance, the smaller peripheral economies in the euro-zone are still making inroads into their budget deficits, but there are some signs that Italy and Spain are faring a bit less well. 29th October 2013 · 1 min read
Europe Economics Weekly Euro-zone still on track for a grinding recovery Although the Bank of Spain’s Q3 GDP estimate suggested that Spain may have exited its two-year recession, the fall in the euro-zone composite PMI in October highlighted that the region’s economic... 28th October 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) September’s euro-zone monetary data perhaps offered tentative signs that the fall in bank lending is easing, but a decent pick-up in credit remains a distant prospect. 25th October 2013 · 1 min read
Global Markets Update Will the euro-zone recovery lift equity earnings? The depressed level of euro-zone aggregate corporate earnings largely reflects the weakness of the region’s economy. While we continue to think that the recovery in GDP will be unspectacular, a... 24th October 2013 · 1 min read
