Europe Data Response German ZEW (Jul.), French & Italian Ind. Prod. (May) The further decline in German ZEW investor sentiment seems to reflect concerns about the impact of possible protectionist measures. But May’s industrial production data for France and Italy support... 10th July 2018 · 1 min read
Europe Data Response German Industrial Production (May) May’s industrial data add to the evidence that the weakness in the sector earlier in the year was at least partly down to temporary factors. Overall, the German economy has clearly shifted down a gear... 6th July 2018 · 1 min read
Europe Data Response German Ifo Survey (June) While the Ifo Business Climate Indicator edged down in June, it remains at a high level and therefore adds to evidence from the PMI that growth picked up somewhat in Q2 after a slow start to the year. 25th June 2018 · 1 min read
Europe Data Response German & French Industrial Production (Apr.) April’s data for industrial production in Germany and France add to the evidence that the euro-zone economy is unlikely to rebound strongly after Q1’s slowdown. 8th June 2018 · 1 min read
Europe Commercial Property Update German retail well beyond peak occupier demand Retail letting volumes in Germany’s main cities have been trending downwards over the past few years, putting upwards pressure on the spread between prime and secondary yields. With demand for... 25th May 2018 · 1 min read
Europe Data Response German Ifo Survey (May) The stabilisation of the German Ifo in May is encouraging and provides some hope that a rebound in growth is on the cards in Q2. We doubt that the economy will regain all of its lost momentum, but it... 25th May 2018 · 1 min read
Europe Data Response German GDP (Q1, Breakdown) Q1’s 0.3% rise in German GDP marked a weak start to the year. But temporary factors were partly to blame and the strength of investment in particular is an encouraging sign that the upturn still has... 24th May 2018 · 1 min read
Europe Data Response Euro-zone GDP (Q1), IP (Mar.) & German ZEW (May) We think that the slowdown in euro-zone GDP growth in Q1 largely reflected temporary effects. So we remain optimistic that the economy will perform better over the rest of the year. 15th May 2018 · 1 min read
Europe Data Response German & Dutch GDP (Q1) The sharper-than-expected slowdowns in both German and Dutch GDP in Q1 suggest that there is a risk that euro-zone GDP will be revised down from the first estimate of 0.4% q/q. But with Q1’s weakness... 15th May 2018 · 1 min read
Europe Data Response German Industrial Production & Trade (Mar.) March’s improvements in German industrial production and the trade balance support our view that while Q1 was a pretty poor quarter, this will not mark the start of a sustained economic slowdown. 8th May 2018 · 1 min read
Europe Economics Weekly Did the euro-zone catch a cold in Q1? We think that temporary factors – including industrial action, cold weather and an outbreak of the flu – explain about 0.2 percentage points of the slowdown in quarterly euro-zone GDP growth from 0.7%... 4th May 2018 · 1 min read
Europe Commercial Property Update How healthy is German industrial demand? Following last year’s fall in take-up, recent signs that the German economy is coming off the boil raise questions about industrial and logistics demand. However, we think that the economic outlook is... 1st May 2018 · 1 min read
Global Economics Update How vulnerable is Germany to US tariffs? Germany faces little threat from the US aluminium and steel tariffs that might come into force this week, but would be hit harder than most other European economies if the US imposed broader tariffs... 30th April 2018 · 1 min read
Europe Economics Update How vulnerable is Germany to US tariffs? Germany faces little threat from the US aluminium and steel tariffs that might come into force this week, but would be hit harder than most other European economies if the US imposed broader tariffs... 30th April 2018 · 1 min read
Europe Data Response German Flash CPI (Apr.) German HICP inflation dipped from 1.5% to 1.4% in April as increases in energy and food inflation were offset by a fall in the core rate. While the latter partly reflected temporary effects, the... 30th April 2018 · 1 min read
Europe Data Response German Ifo Survey (Apr.) April’s disappointing Ifo survey added to signs that the German economy is slowing, but not as sharply as recent hard data imply. This is further cause for caution ahead of the ECB’s meeting this... 24th April 2018 · 1 min read
