Europe Commercial Property Update Returns in Emerging Europe more vulnerable to the industrial slump The collapse in industrial production that has been seen across Europe suggests that the economic downturn is rapidly gathering speed. This is bad news for property investors. In our view, investors... 16th January 2009 · 1 min read
Emerging Europe Economics Update Rates heading for record lows (Jan 09) The growth outlook for Emerging Europe continues to deteriorate sharply. With oil and food prices now a deflationary force, policymakers are rightly concerned about inflation undershooting rather than... 14th January 2009 · 1 min read
Emerging Europe Chart Pack 2009: A year-long hangover (Dec 08) It would be an understatement to suggest that 2008 has been a disastrous year for financial markets in the region. Currencies are down by as much as 40% against the dollar, equities have plunged and... 23rd December 2008 · 1 min read
Emerging Europe Economics Update Rates set to fall despite currency risks (Dec 08) A sharp deterioration in the growth outlook, coupled with further falls in oil and food prices, has caused policymakers in the region to grow more concerned about inflation undershooting, rather than... 12th December 2008 · 1 min read
Non-Euro Europe Commercial Property Outlook Emerging Europe to underperform the Euro-zone (Q1 2009) With very few exceptions, total returns in noneuro European commercial property markets are, on average, forecast to be negative in 2009 and 2010, before recovering in 2011 and beyond. (See Charts 1... 10th December 2008 · 1 min read
Emerging Europe Economic Outlook ‘Super Deficit’ countries heading for recession (Q4 2008) The outlook for Emerging Europe remains bleak. The economies of the ‘Super Deficit’ countries (Ukraine, Hungary, Turkey, the Baltics and the Balkans) look set to contract next year as the global... 8th December 2008 · 1 min read
Emerging Europe Chart Pack Crisis deepens in the ‘Super Deficit’ countries (Nov 08) As the global credit crunch intensifies, those countries in Emerging Europe with large external financing needs have been forced to turn to the IMF and EU for emergency funding. Hungary and Ukraine... 27th November 2008 · 1 min read
Emerging Europe Economics Update Falling currencies to prevent dramatic rate cuts (Nov 08) As the global slump intensifies, lingering inflation concerns have given way to fears of an imminent recession in Emerging Europe. But large external deficits have caused currencies in the region to... 18th November 2008 · 1 min read
Emerging Europe Economics Focus Will recession in Eastern Europe bring down banks in the West Swedish and Austrian banks look most exposed to the impending recession in parts of Emerging Europe. But lending to the region still accounts for a relatively small share of total bank assets in both... 13th November 2008 · 1 min read
Emerging Europe Economics Focus ‘Super Deficit’ countries in recession in 2009 Huge current account deficits across Emerging Europe mean that Hungary and Ukraine are unlikely to be the only countries in the region to call on the IMF for emergency funding. As a period of painful... 29th October 2008 · 1 min read
Emerging Europe Chart Pack Feeling the pinch (Oct 08) Financial markets in the region have been rocked by the recent sharp downturn in global risk appetite. Equities have plunged by up to 50% in the past month, while spreads on CDS have ballooned... 22nd October 2008 · 1 min read
Emerging Europe Economics Update Rate cuts won’t keep pace with ECB (Oct 08) Recent developments in the global economy and financial markets mean that growth fears will start to overtake lingering inflation concerns amongst policymakers in the region. But diminished investor... 15th October 2008 · 1 min read
Emerging Europe Economics Focus Will falling oil prices halt Russia's boom? We now expect real GDP growth in Russia to slow to 5% next year. But contrary to popular belief, this will not be driven by a fall in oil prices, which we now expect to fall to around $70pb over the... 10th October 2008 · 1 min read
Emerging Europe Economic Outlook Clouds gather over the growth outlook (Q3 2008) The outlook for Emerging Europe has deteriorated in recent months. Weaker growth in the euro-zone will hit manufacturers, while consumers are facing twin headwinds of higher inflation and tighter... 29th September 2008 · 1 min read
Emerging Europe Economics Update Currency markets take centre stage (Sep 08) On the whole, inflation pressures are easing across the region. But the ability of policymakers to cut interest rates in response will be governed by developments in the currency markets. We see scope... 22nd September 2008 · 1 min read
Emerging Europe Chart Pack Russian & Ukrainian markets hit by political risk (Sep 08) While the conflict in South Ossetia is likely to have little direct impact on the Russian economy, financial markets have been hit hard by a rise in political risk. The currency has dropped by 3%... 8th September 2008 · 1 min read
