Europe Data Response German Industrial Production (Aug.) August’s big drop in industrial production all but confirmed that German industry is back in recession and underlined the need for both the ECB and the German Government to give the euro-zone’s... 7th October 2014 · 1 min read
Europe Data Response German Ifo Survey (Sep.) September’s Ifo survey brought further worrying signs that the recovery in the German economy is grinding to a halt and underlined the need for both monetary and fiscal policy to provide further... 24th September 2014 · 1 min read
Emerging Europe Economics Update Hungary to keep rates at record low well into next year The National Bank of Hungary’s post-meeting press release reinforced the message that the MPC sees little pressure to raise interest rates. Indeed, with inflation likely to remain low, and economic... 23rd September 2014 · 1 min read
Europe Commercial Property Update Do German office markets face an impending oversupply risk? The short-term blip in German growth will not significantly impact office markets and, although development pipelines are growing, we expect to see continued office rental value growth in the next few... 16th September 2014 · 1 min read
Europe Data Response German ZEW Survey (Sep.) & Euro-zone Labour Costs (Q2) September’s small fall in the German ZEW investor expectations index and thesharper decline in the current conditions index added to evidence that the recovery inthe euro-zone’s largest and strongest... 16th September 2014 · 1 min read
Europe Economics Weekly Limited room for growth-friendly fiscal policies While signs of pragmatism have recently emerged in the ongoing fiscal debate in the euro-zone, we think there is currently little room for fiscal policy to play much of a role in tackling low growth... 12th September 2014 · 1 min read
Europe Data Response Euro-zone GDP Breakdown (Q2) & German IP (Jul.) The breakdown of euro-zone Q2 GDP was a bit more encouraging than it might have been, but hardly presented a solid platform for stronger growth ahead. 5th September 2014 · 1 min read
Global Markets Update Further ECB easing could see Bund yields rebound The weakness of the euro-zone economy and the persistent threat of deflation should keep German government bond (Bund) yields relatively low. However, any scaling back of fiscal austerity and the... 26th August 2014 · 1 min read
Europe Economics Weekly Stalled recovery intensifies pressure on the ECB The euro-zone’s economic recovery came to a complete halt in the second quarter at what shouldhave been a very early stage. There were some temporary factors at play which suggest thatgrowth should... 18th August 2014 · 1 min read
Europe Economics Update How worried should we be about Germany? The decline in German GDP in Q2 is not as alarming as it might appear given that it was causedpartly by temporary factors. But while the economy should return to growth in Q3 and beyond, itseems clear... 14th August 2014 · 1 min read
Europe Data Response Euro-zone GDP (Q2 Prov.) The stagnation of the euro-zone economy in the second quarter further underlinedthe need for the European Central Bank (ECB) to take bolder policy action to addressthe continued weakness of the... 14th August 2014 · 1 min read
Europe Commercial Property Update When will CEE office occupier demand take off? The recent fall in office take-up across the main CEE markets is a concern given the region’s large office development pipelines. But at the same time, the recent strength of office-based employment... 14th August 2014 · 1 min read
Europe Data Response German ZEW Survey (Aug.) August’s drop in the ZEW Economic Sentiment Indicator was another worrying signfor the German economy, particularly as perceptions of current conditions are nowweakening along with expectations. 12th August 2014 · 1 min read
Europe Data Response French Industrial Production & German Trade (Jun.) Despite an improvement in June, French industrial data suggest that industry probablydragged on overall euro-zone growth in Q2. Meanwhile, Germany’s latest trade dataindicate that the external sector... 8th August 2014 · 1 min read
Europe Commercial Property Update Will Paris’ occupier demand outperformance last? Parisian office take-up grew by 55%y/y in the second quarter, but fell in three of the top four German cities, including a 45%y/y fall in Frankfurt. Nevertheless, the underlying weakness of the French... 7th August 2014 · 1 min read
Europe Data Response German & Spanish Industrial Production (Jun.) June’s small rise in German industrial production was a huge disappointment, andsuggests that activity in what has been the euro-zone’s strongest economy stagnatedin Q2. This will add to pressure on... 7th August 2014 · 1 min read
