Europe Commercial Property Update Will the rally in Bucharest office yields be reversed? The compression in office yields in Bucharest seen over the past two years is hard to reconcile with weak financial service sector activity, and the implied weakening in occupier demand. Therefore, we... 18th May 2012 · 1 min read
Emerging Europe Economics Update Policymakers have little room for manoeuvre This week’s dismal first quarter GDP data will sharpen the debate over whether policymakers in Emerging Europe should pursue austerity or focus on growth. But in reality, while there is scope for one... 17th May 2012 · 1 min read
Emerging Europe Economics Update Greek exit risks revisited With a few notable exceptions, Emerging Europe’s direct exposure to Greece is small. But the contagion from a disorderly Greek exit from the euro-zone would have disastrous consequences for the region... 15th May 2012 · 1 min read
Emerging Europe Economics Update Q1 GDP data just the tip of the iceberg The raft of Q1 GDP data released today show that output in large parts of Emerging Europe was contracting even before the most recent escalation of the euro-crisis. 15th May 2012 · 1 min read
Emerging Europe Economics Update Q1 GDP data should impress – but can it last? The raft of Q1 GDP data due to be released over the coming weeks will confirm that, having been on the brink of a crisis towards the end of last year, most economies in Emerging Europe have since... 10th May 2012 · 1 min read
Europe Commercial Property Update RICS Global Survey too upbeat on Polish and Czech rental values Last week’s Q1 2012 RICS Global Survey revealed a divergence in surveyors’ expectations for commercial property rental growth in Emerging Europe. We agree that the outlook is brightest in Russia and... 10th May 2012 · 1 min read
Emerging Europe Economics Update Manufacturing hit by fresh slump in the euro-zone April’s manufacturing PMIs suggest that industrial output in most of Emerging Europe contracted last month – mirroring the recent deterioration in the survey data from Germany. More worryingly, the... 2nd May 2012 · 1 min read
Growth to disappoint as the euro-zone crisis drags on The euro-zone economy is heading back into recession. And if we are right that the euro-zone is not sustainable in its current form, the downturn will extend into 2013 and eventually encompass all... 30th April 2012 · 1 min read
Emerging Europe Chart Pack Markets hit by fresh euro concerns Financial markets across Emerging Europe have been hit by fresh concerns about the euro-zone debt crisis in recent weeks. So far at least, the sell-off in the region’s markets has not been as dramatic... 26th April 2012 · 1 min read
Emerging Europe Economics Update Hungary edges closer to an IMF/EU deal Signs that the European Commission (EC) is willing to be more lenient in its discussions with Hungary over a new IMF/EU financing programme suggest that an agreement could be reached more quickly than... 25th April 2012 · 1 min read
Emerging Europe Economics Update Hungarian government still too sanguine on IMF deal Earlier today we attended a meeting with Hungarian Minister of Economy, Zoltan Csefalvay. We left with the impression that, while the government talks a good game on the need for medium-term economic... 18th April 2012 · 1 min read
Emerging Europe Economics Update Euro-zone crisis still the big risk for region’s banks Our latest Banking Heat Map paints a mixed picture: in some countries (notably Hungary and the Baltic States) credit continues to shrink, in others (Turkey) a boom in lending over the past year or so... 17th April 2012 · 1 min read
Emerging Europe Economics Update Core inflation weakens in Eastern Europe Headline inflation remains above-target in most of Emerging Europe. But inflation fell in several countries last month while core price pressures are subdued everywhere apart from Turkey. 13th April 2012 · 1 min read
Emerging Europe Economics Update Evaluating Hungary’s Early FX Repayment Scheme The introduction of Hungary’s early FX mortgage repayment scheme last September was one in a chain of events that severely dented market confidence in local policymaking and sent the economy to the... 5th April 2012 · 1 min read
Emerging Europe Economics Update Region stabilising, but Q1 growth still lacklustre The manufacturing PMIs for March add to recent data suggesting that, while conditions in Emerging Europe are slowly improving, growth in Q1 of this year was still pretty lacklustre. The sharp jump in... 2nd April 2012 · 1 min read
Emerging Europe Chart Pack Market rally loses its shine The rally in financial markets since the start of the year has lost some steam in recent weeks. Most stock markets have fallen by around 2-3% since the start of the month and most currencies lost a... 28th March 2012 · 1 min read
