Europe Data Response Euro-zone GDP (Q4 12) The breakdown of euro-zone GDP in the fourth quarter revealed an increasingly broad-based decline. Timelier indicators still point to another contraction in GDP in Q1 despite their recent improvement. 6th March 2013 · 1 min read
Europe Data Response Euro-zone Retail Sales (Jan.) & Final PMI Survey (Feb.) January’s rise in euro-zone retail sales and the fall in the composite PMI in February add to evidence that while the recession in the region is slowing, it is not over. 5th March 2013 · 1 min read
Europe Economics Weekly Is the crisis back? Having swum against the tide of increased optimism towards the euro-zone for some months, we are wary of the temptation to leap on last week’s events in Italy as a vindication of our position. After... 4th March 2013 · 1 min read
Europe Data Response Euro-zone Flash CPI (Feb.) & Unemployment (Jan.) February’s fall in euro-zone CPI inflation and the further rise in unemployment in January raised the chances of further policy action by the ECB. 1st March 2013 · 1 min read
ECB Watch Support for Italy would come with strings attached The renewed deterioration in some indicators of economic activity and fears about the political situation in Italy should prompt the ECB to strike a softer tone after its next meeting. President... 28th February 2013 · 1 min read
Europe Economics Update Has the Italian election disabled the ECB’s bazooka? The renewed rise in Italian and other government bond yields following the inconclusive result of the Italian general election has raised questions over the continued effectiveness of the European... 27th February 2013 · 1 min read
Europe Data Response Euro-zone EC Survey (Feb.) February’s rise in the euro-zone EC Economic Sentiment Indicator (ESI) confirmed that sentiment was rising – before the Italian election. But the recent bout of market uncertainty may lead to renewed... 27th February 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jan.) The latest euro-zone monetary data have brought further signs of an improvement in financial market conditions. However, lending to the private sector continued to contract and seems unlikely to... 27th February 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Feb. 13) Greece, Ireland and Portugal continued to make solid fiscal progress at the beginning of 2013. But Italy and Spain are likely to have missed their fiscal goals for 2012. 26th February 2013 · 1 min read
Europe Economics Update Has the EC softened its stance on austerity? Recent hints that the European Commission could grant further extensions to governments that are missing their deficit targets provide hope that the Commission will not force austerity regardless of... 25th February 2013 · 1 min read
Europe Commercial Property Chart Pack Occupier and investment markets diverge The pace of economic contraction in the euro-zone stepped up a notch in the final quarter of 2012. Yet sentiment towards the region has improved. As a result, although the underlying drivers of... 22nd February 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Feb.) The fall in the composite euro-zone PMI in February puts a dent in hopes that the region will emerge from recession in the first quarter. 21st February 2013 · 1 min read
Europe Data Response Euro-zone Consumer Confidence (Feb.) The EC consumer confidence survey rose for the third consecutive month in February in line with the general pick up in sentiment across the euro-zone. But the survey remains consistent with further... 20th February 2013 · 1 min read
Europe Economics Focus Have the peripheral economies regained competitiveness? Official figures appear to suggest that the peripheral countries are successfully restoring competitiveness through internal devaluation. Since peaking in 2008/09, whole economy unit labour costs... 18th February 2013 · 1 min read
Europe Economics Update German exports to outperform despite stronger euro The recent rise in the euro exchange rate is likely to hit Germany and Finland hardest given their strong trade links with non-euro-zone countries. But with exports from the south and periphery set to... 18th February 2013 · 1 min read
Europe Economics Focus Can the ECB follow words with actions? Mario Draghi’s hints that the ECB might respond to the threat posed by the strength of the euro begs the question of just what action it could take. While there are plenty of policy options still... 14th February 2013 · 1 min read
