Europe Data Response Euro-zone Retail Sales (Apr.) April’s pick-up in euro-zone retail sales may look like an encouraging sign that euro-zone consumers are defying the fiscal squeeze. But the bounce is likely to have been a one-off boosted by Easter... 7th June 2011 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (May) While Spain has made good progress in reducing its central government budget deficit this year, its growing regional deficits are a cause for concern. Meanwhile, the Greek and Irish deficits are still... 1st June 2011 · 1 min read
Europe Data Response Euro-zone Flash CPI & Unemployment (May/Apr.) May’s slight drop in euro-zone CPI inflation is unlikely to prompt the ECB to tone down its hawkishness. Interest rates are set to rise again in July. 31st May 2011 · 1 min read
Europe Data Response Euro-zone EC Survey (May) May’s EC business and consumer survey brought further signs that the economic recovery in the euro-zone is starting to lose steam and hence dented hopes that continued strong growth in the core will... 27th May 2011 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (May) The latest data show that euro-zone money and credit growth remain subdued. Of course, with headline inflation well above target, this won’t stop the ECB from raising interest rates again over the... 27th May 2011 · 1 min read
Europe Data Response Euro-zone Flash PMIs (May) May’s sharp fall in the flash euro-zone Purchasing Managers’ Index (PMI), driven by developments in France and Germany, brought the strongest signs yet that the core economies’ recoveries are losing... 23rd May 2011 · 1 min read
Europe Commercial Property Chart Pack Weak performance outside the core The increasing divergence between the euro-zone’s core and peripheral economies are now clearly evident in the performance of commercial property markets. In contrast to the core, there is no... 17th May 2011 · 1 min read
Europe Data Response Euro-zone CPI (Final, Apr.) & Trade (Mar.) April’s sharp rise in core inflation is probably not as worrying as it may seem, but it will do nothing to ease the ECB’s inflation concerns, suggesting that the Bank may raise interest rates again in... 16th May 2011 · 1 min read
Europe Economics Weekly Strong surface hides widening cracks The solid 0.8% gain in euro-zone GDP in Q1 has left our previous forecast of 1.0% growth in 2011 overall looking too downbeat. We have pushed it up to 1.5%, but an even stronger figure of 2.0% or so... 16th May 2011 · 1 min read
Europe Commercial Property Update Cracks between euro-zone core and peripheral markets widen Today’s euro-zone GDP data will do nothing to boost investor sentiment towards commercial property in the region’s troubled peripheral economies. Rather it supports forecasts that the gap between... 13th May 2011 · 1 min read
Europe Data Response Euro-zone GDP (Q1) Q1’s 0.8% gain in euro-zone GDP has got the year off to a solid start and we have revised our full-year growth forecast up from 1.0% to 1.5%. But with the divergences in the region still widening... 13th May 2011 · 1 min read
Europe Data Response Euro-zone Industrial Production (Mar.) March’s euro-zone industrial production figures add to evidence that the recovery in the sector is starting to lose a bit of steam. This supports our view that GDP growth is likely to be pretty... 12th May 2011 · 1 min read
Europe Economics Update ECB softens its stance slightly Having kept interest rates unchanged at 1.25% as expected, President Trichet’s comments in the press conference appeared to provide tentative support to the view that the ECB is not about to embark on... 5th May 2011 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Apr.) Official public finances data for 2010 confirmed that while the core economies are making clear progress to rein in their budget deficits, the periphery’s fiscal problems are far from over. 26th April 2011 · 1 min read
Europe Commercial Property Outlook Too soon to look for a recovery in peripheral markets Since our previous Analyst we have become a little more optimistic about the potential for returns in some of the core euro-zone commercial property markets such as Germany, France and Belgium, as... 20th April 2011 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Apr.) The flash euro-zone Purchasing Managers’ Index (PMI) for April confirmed that economic activity in the region as a whole is still defying the continued problems in the periphery. 19th April 2011 · 1 min read
