Europe Data Response German Ifo Survey (Apr.) April’s German Ifo survey supports the message from other surveys like the PMI and ZEW that growth is still fairly slow . This suggests that underlying inflation will remain subdued and perhaps... 25th April 2016 · 1 min read
Europe Data Response German ZEW (Apr.) April’s rise in German ZEW investor sentiment reflected easing concerns about the global economic environment. But perceptions of current conditions in Germany have weakened, supporting our view that... 19th April 2016 · 1 min read
Global Markets Update German Bund yields – how low can they go? We think the yield of 10-year Bunds is unlikely to follow that of Japanese government bonds (JGBs) in turning negative, despite the fact that it came within a whisker of its historical low at the... 15th April 2016 · 1 min read
Europe Commercial Property Update Record take-up points to logistics rental growth across Germany In 2015, German logistics take-up hit a new record. Although the Kiel Institute’s logistics sentiment indicator fell to its lowest level in three years in Q1, consumer goods companies and delivery... 14th April 2016 · 1 min read
Europe Data Response German Industrial Production (Feb.) February’s surprisingly small fall in German industrial production offers hope of a pick-up in GDP growth in the first quarter. But it is too early to conclude that the euro-zone’s main growth engine... 6th April 2016 · 1 min read
Europe Data Response Euro-zone Flash PMIs, German Ifo & ZEW (Mar.) The euro-zone PMI and German Ifo and ZEW surveys for March suggest that the slowdown in activity seen at the start of the year has eased, but the surveys still point to only modest growth in Q1 as a... 22nd March 2016 · 1 min read
Europe Data Response French Industrial Production & German Trade (Jan.) January’s rise in French industrial production supports the message from German data that the sector had a good start to the year. But German exports fell in January, suggesting that softer global... 10th March 2016 · 1 min read
Europe Data Response German Industrial Production (Jan.) January’s surprisingly strong gain in German industrial production is unlikely to signal the start of a lasting recovery and hence should not discourage the ECB from further bold policy loosening on... 8th March 2016 · 1 min read
Europe Data Response German, French & Spanish Flash CPI (Feb.) German CPI data revealed that inflation fell back below zero in February and, alongside weak readings for French and Spanish inflation, suggested that the eurozone has re-entered deflation. 26th February 2016 · 1 min read
Europe Data Response German Ifo Survey (Feb.) & GDP Breakdown (Q4) February’s sharper-than-expected decline in the German Ifo Business Climate Indicator (BCI) added to the evidence that growth there is slowing and further justified additional ECB policy support. 23rd February 2016 · 1 min read
Europe Commercial Property Update Office rents in Frankfurt will underperform in 2016 Frankfurt’s office sector has struggled to shake off the legacy of the credit crunch and structural changes in the local labour market. Add in the likely dampening impact of the recent falls in equity... 12th February 2016 · 1 min read
Europe Data Response German Industrial Production & Trade (Dec.) December’s shockingly weak industrial production figures suggest the German economy barely grew in Q4 and pile further pressure on the ECB to match its dovish words with decisive action at its March... 9th February 2016 · 1 min read
Europe Data Response German Flash CPI (Jan.) January’s German CPI data revealed a slight rise in inflation following weather-related weakness in December. But while the rate is set to rise further in the months ahead, underlying inflation... 28th January 2016 · 1 min read
Europe Economics Update How exposed is Germany to a hard landing in China? Even a very sharp slowdown in China would not be enough on its own to push Germany into recession. But if, contrary to our forecasts, a slowdown in China prompted a more generalised slowdown in global... 27th January 2016 · 1 min read
Europe Commercial Property Update Berlin becomes Germany’s biggest investment market Berlin became Germany’s largest investment market in 2015, with investment growth of 120%, far outpacing that in the other major cities. Despite Berlin ranking far above Frankfurt in surveys of... 25th January 2016 · 1 min read
Europe Data Response German Ifo Survey (Jan.) January’s German Ifo survey brought the strongest signals yet that the recent global economic concerns and associated financial market gyrations have started to hit the euro-zone’s biggest economy. 25th January 2016 · 1 min read
