Europe Data Response Euro-zone EC Survey & German Unemployment (Feb.) February’s EC consumer and business survey adds to the recent run of worrying evidence on the euro-zone’s prospects. Our forecast for the economy to expand by 1.5% this year will depend on a renewed... 25th February 2010 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Feb.) January’s euro-zone money supply and lending figures added to evidence that domestic demand remained very subdued at the start of this year. 25th February 2010 · 1 min read
Europe Economics Weekly Weaker euro to offer exporters little respite The latest news from the euro-zone external sector suggests that although exports are expanding strongly, the strong euro is taking its toll on the sector. The recent weakening of the euro is... 22nd February 2010 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Feb.) The euro-zone composite PMI was unchanged in February, adding to evidence that the economy probably expanded at a fairly lacklustre pace at the start of this year. 19th February 2010 · 1 min read
Europe Data Response E-Z Trade Balance (Dec.) & Spanish GDP (Q4) December’s healthy rise in euro-zone exports suggests that exporters are continuing to cope with the strong euro. But the cost has been a sharp squeeze in firms’ margins. This casts doubts on whether... 17th February 2010 · 1 min read
Europe Commercial Property Chart Pack Euro-zone Occupier Market Recovery Yet to Materialise (Feb 10) The euro-zone investment market recovery gained traction in the final quarter of 2009, as investor appetite for commercial property strengthened. However, there is still no evidence that a sustainable... 15th February 2010 · 1 min read
Europe Economics Weekly Is the recovery over before it’s begun? Last week’s EU “accord” on Greece was long on vague pledges of support, but notably short on detail. For now, the markets have given the EU the benefit of the doubt. But if more meat is not put on the... 15th February 2010 · 1 min read
Europe Data Response Euro-zone GDP (Q4) & Industrial Production (Dec.) The news that the euro-zone recovery lost what little momentum it had in Q4 will add to markets’ fears about the region. GDP rose by just 0.1% on the quarter after Q3’s 0.4% gain. Q4’s outturn was... 12th February 2010 · 1 min read
Europe Commercial Property Update Too soon to call a recovery in euro-zone office occupier demand Although some euro-zone office markets saw a rise in take-up at the end of 2009, we do not think that this spells the end of the occupier market downturn. The fragile state of the economic recovery... 8th February 2010 · 1 min read
Europe Economics Update ECB rate hikes still a very distant prospect The ECB is set to announce further plans to phase out unconventional policy support after its meeting next month. But with the Bank’s call for fiscal consolidation highlighting the downward pressure... 4th 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 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
