Europe Data Response French Industrial Production & Trade (Mar.) March’s French industrial production and trade data suggest that the economic situation is not quite as bad as the surveys might have you believe. Nonetheless, it seems very likely that France... 7th May 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Apr.) April’s euro-zone PMI survey provided another clear sign that a sustained economic recovery in the region is still some way off. 23rd April 2013 · 1 min read
Europe Commercial Property Focus GOEF crisis enters new phase Looming deadlines for stricken German open-ended funds to complete their liquidation processes – or hand over remaining assets to their respective custodian banks – mean that the supply of property... 22nd April 2013 · 1 min read
Europe Economic Outlook The crisis continues Recent events in Italy, Cyprus and Portugal have put a dent in hopes that the three-year crisis in the euro-zone is finally drawing to a close. Meanwhile, previous tentative signs that the broader... 10th April 2013 · 1 min read
Europe Commercial Property Update French commercial property outlook darkens The latest survey evidence suggests that the French recession deepened in the first quarter. For now, while low economic sentiment seems to be dampening growth in French real estate equity prices... 4th April 2013 · 1 min read
Europe Data Response Italian GDP (Q4), French Ind. Prod. & German Trade (Jan.) On balance, the latest batch of hard economic data from the euro-zone’s three largest economies makes fairly grim reading and casts further doubt on the view that the region as whole has begun to grow... 11th March 2013 · 1 min read
Europe Economics Focus French slump to deepen fiscal fears The French economy is set to fall further behind others in the euro-zone as labour market rigidity holds back competitiveness and household spending is hit by fiscal austerity. This might cause France... 4th March 2013 · 1 min read
Europe Economics Weekly Mariodona’s words won’t be enough Mario Draghi halted the rise of the euro last week merely by hinting that the ECB might respond to the currency’s strength. But with other central banks taking action to weaken their currencies, we... 11th February 2013 · 1 min read
Europe Commercial Property Update Surveyors sound alarm bells for French and Dutch rents The generally weak picture of European commercial property occupier markets portrayed by the latest RICS global survey is broadly consistent with our own views on the near-term prospects for rental... 6th February 2013 · 1 min read
Europe Commercial Property Update Could the spread between yields in Paris and Munich reverse sign? Recent data show that the French economy is lagging behind Germany. If we are right that this divergence will grow, the low levels of property yields in Paris relative to Munich look unsustainable... 30th January 2013 · 1 min read
Europe Economics Update Gap between Germany and France to widen Recent economic data suggest that France is lagging further behind Germany. If anything, we suspect that this gap will widen as the year goes on, leading tensions between the two countries to rise. 28th January 2013 · 1 min read
Europe Economic Outlook Euro-zone recession to deepen in 2013 While the lull in the euro-zone debt crisis has continued in recent months, the news on the region’s economy has remained distinctly downbeat. Despite some improvement towards the end of last year... 9th January 2013 · 1 min read
Europe Data Response German Trade/French & Italian Industrial Prod’n (Oct.) October’ trade and industrial production figures for the euro-zone’s largest three economies brought further evidence that the recession in the region will deepen in the fourth quarter and that it has... 10th December 2012 · 1 min read
Europe Economics Focus How the core should respond to a euro break-up Sharp appreciations in the euro-zone’s core countries would threaten to damage their exports and GDP in the event of a euro-zone break-up. But there are various policies that could be implemented to... 29th November 2012 · 1 min read
Europe Commercial Property Update Will core market property yields be immune to the downturn? Outside the peripheral markets, the economic downturn in the euro-zone has yet to have a material impact on commercial property values. Yet if the recession deepens as we anticipate, the next six... 27th November 2012 · 1 min read
Europe Economics Focus How would a euro break-up affect the core? A euro-zone break-up would see the re-instated domestic currencies of the region’s core economies appreciate sharply. Without appropriate policy action, the resulting damage to exports would more than... 20th November 2012 · 1 min read
