Europe Commercial Property Update What is the outlook for Budapest office rents? The recovery in employment in Hungary last year, might suggest that the recent uptick in Budapest office rents marks a turning point. But there is no evidence that job creation has boosted office... 17th April 2013 · 1 min read
Emerging Europe Economics Update What has driven Russia's slowdown? The raft of Russian activity data for March, due to be released this week, is likely to show a slight improvement from February. But growth in Q1 is still set to be much weaker than at the end of last... 16th April 2013 · 1 min read
Emerging Europe Economics Update Weak inflation to trigger further Polish rate cut The weakness of the latest inflation data across Central Europe should allow further loosening of monetary policy, even in Poland, where we have now pencilled in a 25bp rate cut later this year. 15th April 2013 · 1 min read
Europe Commercial Property Update CEE property investment data: a mixture of good and bad news Emerging European property investment markets seem to have started 2013 brightly. Yet the sharp rise in region-wide investment volumes was in most part driven by a huge rise in activity in Russia. If... 11th April 2013 · 1 min read
Emerging Europe Economics Update Market rally reverses course Most Emerging European stock markets and currencies have weakened over the past month on the back of the Cypriot crisis and fears of contagion to the rest of the euro-zone. This serves as a timely... 8th April 2013 · 1 min read
Emerging Europe Economics Update Hungary's "Funding for Growth" scheme lacks punch The “Funding for Growth” scheme announced by the National Bank of Hungary is not quite as radical as it could have been. This helps to explain the relatively muted reaction in the financial markets... 4th April 2013 · 1 min read
Emerging Europe Economics Update Manufacturing recovery stutters The latest batch of manufacturing PMIs in Emerging Europe shows that activity slowed across the board last month. Activity remains strongest in Turkey. But the weakness of the Central European... 2nd April 2013 · 1 min read
Emerging Europe Economics Update New-look Hungarian MPC resists more aggressive policy easing The fact that Hungary’s new-look MPC did not lower interest rates by more than 25bps today underlines the extent to which policymakers are constrained by the threat of a sell-off in the financial... 26th March 2013 · 1 min read
Emerging Europe Chart Pack Turkey leading the recovery, Russia lagging behind The latest activity data from Emerging Europe have been something of a mixed bag. Turkey is leading the recovery as a rebound in credit growth has fuelled domestic demand. Here, we think GDP growth... 21st March 2013 · 1 min read
Emerging Europe Economics Update Q4 GDP breakdown points to consumer turnaround The breakdown of Q4 GDP data in Central and South Eastern Europe showed encouraging (albeit tentative) signs of an improvement in consumer spending. By contrast, exports were extremely weak. Leading... 11th March 2013 · 1 min read
Emerging Europe Economics Update Market rally losing steam The rally in Emerging Europe’s financial markets has lost steam over the past few weeks. In part, this is due to the re-surfacing of tensions in the euro-zone following Italy’s inconclusive general... 7th March 2013 · 1 min read
Emerging Europe Economics Update Matolcsy could turn his attention to Hungary's FX debt burden Events during the first few days of Gyorgy Matolcsy’s Governorship of Hungary’s central bank reinforce concerns about the Bank’s independence. At the very least, we are likely to see further interest... 5th March 2013 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Emerging European property continues to lose its shine The relatively strong performance of Emerging European property markets in 2011 was not repeated in 2012. The softening economic backdrop did little to support rental growth, while yields appear to... 1st March 2013 · 1 min read
Emerging Europe Economics Focus What to expect from Hungary's new Bank governor The decision to nominate Economy Minister Gyorgy Matolcsy to become Hungary’s new central bank governor is another blow to the Bank’s independence and is likely to result in further interest rate cuts... 1st March 2013 · 1 min read
Emerging Europe Economics Update PMIs data point to rebound in growth in Q1 February’s PMI data add to recent evidence that the slump in Emerging Europe has bottomed out and that growth in the first quarter of this year should be an improvement on the final quarter of 2012... 1st March 2013 · 1 min read
Emerging Europe Chart Pack Bottoming out GDP data released over the past month showed that growth in Emerging Europe slumped to a postcrisis low of just 0.8% y/y in the final quarter of last year. Nonetheless, the latest surveys suggest that... 28th February 2013 · 1 min read
