Europe Data Response German & Spanish Flash CPI (Sep.) September’s flash inflation data for Germany and Spain suggest that euro-zone inflation was probably unchanged from August’s 1.5%. And the likely falls in core inflation in both Germany and Spain... 28th September 2017 · 1 min read
Europe Economics Update Huge costs make Catalan independence unlikely A unilateral declaration of independence after October’s referendum could severely destabilise the economies of Catalonia and Spain. But given this, and the political and legal barriers to secession... 13th September 2017 · 1 min read
Europe Data Response German Trade, French & Spanish Industrial Production (Jul.) July’s data on German trade, as well as French and Spanish industrial production, provide some early hints that euro-zone GDP growth might slow a touch in Q3. But the continued strength of activity... 8th September 2017 · 1 min read
Europe Data Response German & Spanish Flash CPI (Aug.) August’s increases in German and Spanish HICP inflation point to an increase in eurozone inflation to about 1.5%. But the relatively subdued rates of core inflation in both economies support the ECB’s... 30th August 2017 · 1 min read
Europe Data Response Spanish GDP Breakdown (Q2) The second release of Spanish GDP confirmed that quarterly growth edged up in Q2 due to stronger net trade. While we expect growth to slow in the coming quarters, Spain is still set to be one of the... 24th August 2017 · 1 min read
Europe Data Response German & Spanish Flash CPI (Jul.) July’s unchanged reading for HICP inflation in Germany suggests that euro-zone inflation probably remained at 1.3% in July. German core inflation is set to creep higher over the rest of the year, but... 28th July 2017 · 1 min read
Europe Economic Outlook Euro-zone will continue to impress The European economies are still in good shape, with the euro-zone benefitting from reduced political uncertainty and high levels of business and consumer confidence. We think that this strong... 19th July 2017 · 1 min read
Europe Data Response German, French & Spanish Industrial Production (May) May’s industrial production data for Germany, France and Spain show that output rose sharply across the board. This suggests that overall economic growth in the euro-zone accelerated further in Q2... 7th July 2017 · 1 min read
Europe Commercial Property Update Investors cautious about secondary retail assets in Spain The yield spread between prime and secondary Spanish retail property has widened recently. With a slowdown in consumer spending on the cards, a cautious approach to secondary assets makes sense. 5th July 2017 · 1 min read
Europe Economics Update Spanish banks unlikely to hold back recovery Banco Popular’s difficulties jar with improving conditions elsewhere in Spain’s banking sector, so its forced sale does not appear to signal further trouble ahead and will not hold back the economic... 7th June 2017 · 1 min read
Europe Economics Update Low savings rate limits prospects for Spanish spending The weak outlook for real disposable income growth in Spain, combined with the fact that the savings rate is already low, suggests that household spending growth is unlikely to rebound following Q1’s... 6th June 2017 · 1 min read
Europe Data Response German & Spanish Flash CPI (May) May’s declines in harmonised CPI inflation in Germany and Spain suggest that the euro-zone rate fell back from the ECB’s target of close to 2%. With core inflation subdued across the region, we doubt... 30th May 2017 · 1 min read
Europe Data Response Spanish GDP Breakdown (Q1) The second release of Spanish GDP confirmed that quarterly growth edged up in Q1 despite a slowdown in consumer spending. While we expect growth to slow in the coming quarters, Spain is still set to... 25th May 2017 · 1 min read
Europe Chart Pack A rising tide lifts all boats Survey data suggest that economic momentum among the major euro-zone economies has converged in 2017. Indeed, in April the spread between the Composite PMIs for Germany, France, Italy and Spain was... 4th May 2017 · 1 min read
Europe Data Response France, Spain & Austria GDP (Q1, 1st est.) Provisional Q1 GDP data for France, Spain and Austria suggest that euro-zone economic growth accelerated at the start of 2017. And the slower growth in France in Q1 should prove temporary. 28th April 2017 · 1 min read
Europe Data Response German & Spanish CPI (Apr.) April’s increases in harmonised CPI inflation in Germany and Spain suggest that the euro-zone rate rose back to the ECB’s target of close to 2%. But the increase partly reflected the timing of Easter... 27th April 2017 · 1 min read
