Europe Data Response Euro-zone GDP (Q1) & German Industrial Production (Apr.) The second euro-zone GDP release for Q1 confirmed that the economy narrowly avoided a technical recession. But with April’s German industrial production data confirming that even the region’s... 6th June 2012 · 1 min read
Europe Data Response Euro-zone Flash CPI & German Unemployment (May) May’s fall in euro-zone CPI inflation and the drop in the German unemployment rate were rare pieces of good news for the beleaguered euro-zone. But the recent sharp falls in measures of business... 31st May 2012 · 1 min read
Europe Data Response Euro-zone EC Survey (May) May’s EC business and consumer survey underlined the enormity of the task facing euro-zone policymakers if they are going to convert the growing “consensus” on the need for stronger growth across the... 30th May 2012 · 1 min read
Europe Economics Weekly Growth plans look futile as German activity falls European policymakers focused again last week on the need for growth in the region, with Wednesday’s informal EU summit ending in pledges to speed up structural reforms, strengthen job creation and... 28th May 2012 · 1 min read
Europe Data Response Euro-zone Composite PMI & German Ifo Survey (May) May’s business surveys confirmed the picture of falling economic activity in the euro-zone as a whole and suggest that the downturn has now really hit Germany. 24th May 2012 · 1 min read
Europe Commercial Property Update GOEF liquidations dampen medium-term European property outlook In a worst case scenario, over the next five years, some €36bn worth of European property assets could be liquidated by German open-ended property funds (GOEFs). Our downbeat views on the European... 21st May 2012 · 1 min read
Europe Economics Focus The consequences of a euro-zone break-up Markets have come around to our long-held view that some form of euro-zone break-up is likely, but opinion remains divided on the likely economic and financial fall-out. While even a limited and well... 21st May 2012 · 1 min read
Europe Economics Weekly The exit path becomes clearer Developments last week shed more light on the course of events which could culminate in the exit of Greece from the euro-zone. The failure of the political parties to form a coalition or even appoint... 21st May 2012 · 1 min read
Europe Commercial Property Chart Pack Economic slowdown triggers fall in capital values The euro-zone economy narrowly avoided falling back into a technical recession in Q1. But GDP merely stagnated and survey evidence point to renewed falls to come. In any event, the economic slowdown... 16th May 2012 · 1 min read
Global Markets Update What next for euro-zone equities? The crisis in the euro-zone has exacted a heavy toll on regional stock markets. The sharp falls in equity prices have driven valuations down to attractive levels in many Member States, both relative... 16th May 2012 · 1 min read
Europe Data Response Euro-zone GDP (Q1) & German ZEW (May) The provisional Q1 euro-zone GDP figures revealed that the economy has narrowly avoided a technical recession – temporarily. But the region remains worryingly reliant on growth in Germany and a... 15th May 2012 · 1 min read
Europe Economics Update Higher German inflation won’t rescue the periphery Suggestions that higher German inflation will allow the euro-zone’s peripheral economies to regain lost competitiveness look hopelessly optimistic. Those countries still face deep and prolonged wage... 14th May 2012 · 1 min read
Europe Economics Weekly Has Greece already crossed the Rubicon? Political deadlock in Greece has reignited fears it could be on cusp of a euro-zone exit. The most likely outcome of another election is a victory for the pro-bail-out New Democracy and PASOK parties... 14th 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
Europe Commercial Property Update Is the Q1 fall in all-property capital values a sign of what’s to come? Euro-zone capital values suffered a fall in Q1. Although the decline was small, it was pretty widely based. As a result, it does nothing to alter our view that euro-zone commercial property markets... 8th May 2012 · 1 min read
Europe Data Response German Industrial Production (Mar.) March’s sharp rise in German industrial production reduces the risk that the economy is already in recession. But the underlying picture is still one of a sharp slowdown in the sector which will leave... 8th May 2012 · 1 min read
