Non-Euro Europe Commercial Property Chart Pack Investment market upturn petering out There are clear signs that investment demand for Western European commercial property is beginning to fade. Across the region, transaction volumes have begun to fall, or have levelled off at... 17th November 2010 · 1 min read
Emerging Europe Economics Update Russia Q3 GDP dragged down by droughts The sharp drop in Russian GDP growth in Q3 stands in stark contrast to the generally strong batch of data released elsewhere in the region earlier this morning and marks Russia out from the rest of... 12th November 2010 · 1 min read
Emerging Europe Economics Update Q3 GDP surprises on upside but twin speed recovery still likely The raft of third-quarter GDP data released this morning generally surprised on the upside. Hungary, Slovakia and the Czech Republic all expanded at a faster pace than expected, while Romania... 12th November 2010 · 1 min read
Emerging Europe Economics Update Turkey: widening imbalances are the risk, not slowing growth Data showing that Turkish industrial production fell in September grabbed a few headlines earlier this week. This is perhaps understandable given that manufacturers have so far led the recovery. But... 10th November 2010 · 1 min read
Emerging Europe Economics Focus Emerging markets will not rescue the rest of the world Emerging market economies will continue to grow rapidly over the next few years. But with current account surpluses in most of Asia and among oil producers likely to remain high, this will not be of... 8th November 2010 · 1 min read
Emerging Europe Economics Update Poland: gearing up to hike interest rates It is now more likely than not that Polish policymakers will start to raise interest rates later this month. But we doubt that this will signal the beginnings of a sustained tightening cycle. 8th November 2010 · 1 min read
Emerging Europe Economics Update Should we worry about inflation expectations in Poland? There is little evidence to back up claims by some policymakers in Poland that interest rates should be raised in order to contain inflation expectations. In fact, doing so could entail some... 5th November 2010 · 1 min read
Emerging Europe Economics Update Baltic states struggling to shift growth models The worst of the financial crisis in the Baltic states has clearly passed. But with the region finding it difficult to shift to an export-led growth model, there are legitimate concerns over the... 4th November 2010 · 1 min read
Emerging Europe Economics Update Industry makes a good start to Q4 Manufacturing PMIs strengthened across most of the region in October and continue to point to industrial production growth of between 10-15% y/y over the coming months. But manufacturers in the region... 2nd November 2010 · 1 min read
Emerging Europe Chart Pack 'Currency wars' bypass Emerging Europe (Oct 10) Concerns that a rapid influx of capital into emerging markets may sow the seeds of the next bubble do not really apply in Eastern Europe. This is because, so far, at least, capital inflows to the... 29th October 2010 · 1 min read
Emerging Europe Economics Update Polish policymakers not yet ready to raise rates Today’s decision to keep Polish interest rates unchanged and raise reserve requirements instead reflects an attempt to tighten monetary conditions without attracting an influx of foreign capital... 27th October 2010 · 1 min read
Emerging Europe Economics Focus Russia unlikely to remain a 'super saver' for very long We expect the current account surpluses of most of the world’s ‘super savers’ to fall only gradually over the next few years. Russia, however, is the exception. If oil prices drop back to $60pb over... 27th October 2010 · 1 min read
Emerging Europe Economics Update Central Bank of Turkey turns even more dovish The outlook for Turkey remains amongst the best in the region, but policymakers at the central bank (CBRT) are still in no mood to raise interest rates. 26th October 2010 · 1 min read
Europe Commercial Property Update Czech occupier demand still under pressure October’s fall in economic sentiment in the Czech Republic suggests that a recovery in occupier demand for commercial property is not yet imminent. Indeed, rental value prospects for office, retail or... 25th October 2010 · 1 min read
Emerging Europe Economics Update Russia to get a near-term boost from higher oil prices In light of the recent upward revision to our near-term profile for oil prices, we have pushed up our Russian growth and inflation forecasts for 2011. But the economy remains vulnerable to the fall in... 21st October 2010 · 1 min read
Emerging Europe Economics Update Polish prospects picking up, but challenges remain The outlook for Poland remains amongst the best in the region, and we now expect the economy to expand by 3% next year (from 2.5% before). But with further steps needed to tackle the large structural... 20th October 2010 · 1 min read
