Europe Data Response Germany Flash Inflation (January) The smaller-than-anticipated fall in Germany’s inflation rate, and increase in core inflation in Portugal and Spain, suggest that underlying price pressures are continuing to build. Euro-zone... 31st January 2022 · 3 mins read
UK Markets Chart Pack Equities adjusting to the end of ultra-low real yields It is possible that equity prices will continue to struggle in the near term if central banks send more signals that they are willing to raise interest rates further in order to control inflation. But... 31st January 2022 · 8 mins read
Europe Economics Update Portugal rebound to continue after election The Socialist Party’s victory in yesterday’s election means there will be no substantial change in economic policy, but the government should be more stable. In any case, Portugal’s economy is set to... 31st January 2022 · 4 mins read
Europe Data Response Euro-zone GDP (Q4 2021) The small increase in euro-zone GDP in Q4 came as no surprise given the country-level data published last week and shows that the euro-zone economy was struggling at the end of last year. But... 31st January 2022 · 2 mins read
Emerging Europe Data Response Poland GDP (2021) The larger-than-expected 5.7% increase in Polish GDP over 2021 as a whole is consistent with another large expansion in Q4 and meant that the economy recovered faster than most other European... 31st January 2022 · 3 mins read
Europe Economics Update Best possible outcome for Italy By re-electing Sergio Mattarella as president and ensuring that Mario Draghi remains prime minister, Italy’s political establishment has achieved what appears to be the best possible outcome. The... 31st January 2022 · 3 mins read
UK Commercial Property Update Has there been a flight to quality in London offices? There is a perception that a shift in workspace preferences brought about by the pandemic has redirected demand towards higher quality office space. But while there is some evidence of a flight to... 28th January 2022 · 3 mins read
Emerging Europe Economics Weekly Turkey’s drive for “lira-isation”, Russia’s market sell-off The upwards revision to the Turkish central bank's 2022 inflation forecast this week was just a matter of catching up with reality and the more interesting detail was the central bank’s emphasis on... 28th January 2022 · 9 mins read
UK Economics Weekly More space to scrap NIC hike than most think With the beleaguered Prime Minister looking to win back support from his Tory MPs, one option reportedly being considered is postponing or scrapping the planned national insurance tax hike. On our... 28th January 2022 · 4 mins read
Europe Economics Weekly Strong labour market not yet feeding through to wages Surveys published this week suggested that the euro-zone economy has had a weak start to 2022 amid surging cases, but this is likely to be short-lived. Meanwhile, although the labour market appears to... 28th January 2022 · 10 mins read
Nordic & Swiss Economics Weekly Case for rate hikes in Sweden continues to build With the Swedish economy flying, core inflation picking up, and inflation expectations back above target, the stage is surely set for a hawkish mea culpa at the Riksbank’s next policy announcement, on... 28th January 2022 · 4 mins read
Europe Data Response EC Survey (Jan.) The EC Economic Sentiment Indicator weakened in January as the Omicron wave took a toll on economic activity, particularly in the services sector. The survey also showed that supply shortages remained... 28th January 2022 · 2 mins read
Emerging Europe Data Response Economic Sentiment Indicators (Jan.) The EC’s Economic Sentiment Indicators for January generally showed sentiment in Central and Eastern Europe holding up across all sectors of the economy. With Omicron waves likely to peak in the... 28th January 2022 · 2 mins read
Europe Data Response German GDP (Q4 2021) The decline in economic activity at the end of last year left GDP well below its pre-pandemic level and much weaker than in other major advanced economies. Activity seems to have stabilised in January... 28th January 2022 · 3 mins read
Europe Data Response French & Spanish GDP (Q4 2021) Both the French and Spanish economies ended 2021 on a strong note, but for different reasons. In France, domestic demand pushed output above its pre-virus level, a boon for President Macron ahead of... 28th January 2022 · 2 mins read
Europe Commercial Property Update Pandemic not the only risk to Stockholm property While we think the direct risks to property from the pandemic have reduced, the uncertain impact of structural change and our expectation that interest rates will now be increased from late this year... 28th January 2022 · 3 mins read
