Europe Economics Weekly Could Germany yet save the euro? Worries about the Greek debt deal were offset last week by greater optimism towards Germany. Not only were there further signs of a pick-up in the economy, but Angela Merkel hinted that she would be... 30th January 2012 · 1 min read
Europe Commercial Property Outlook On the cusp of a fresh downturn The recovery in capital values seen in most euro-zone property markets over the past year or so, looks set to be reversed in 2012. As the economy slides back into a deep recession, occupier demand... 26th January 2012 · 1 min read
Euro-zone departures to exacerbate the downturn The euro-zone stands on the brink of a deep recession which will encompass all member states. Emerging European economies have less scope to loosen policy in response to a drop in euro-zone output... 25th January 2012 · 1 min read
Europe Data Response German Ifo Survey (Jan) January’s rise in the German Ifo index suggests that the economy is holding up relatively well, but activity is nowhere near strong enough to provide a meaningful boost to the euro-zone’s periphery. 25th January 2012 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jan.) January’s increase in the euro-zone composite PMI is certainly an encouraging sign, but the survey still suggests that the region is in recession. 24th January 2012 · 1 min read
Europe Economics Weekly Greek debt deal won’t eliminate break-up risks The Greek government appears to be close to agreeing a deal with bond-holders which should both reduce its debt burden and ensure that it gets its second bail-out in time to finance the redemption of... 23rd January 2012 · 1 min read
Europe Commercial Property Update Has the best for the German office market passed? All the headline indicators for the German office market, i.e. take-up, vacancy rates and rents, moved in the right direction last year. But we expect the final stages of 2011 to prove to be the high... 19th January 2012 · 1 min read
Europe Data Response German ZEW Survey (Jan.) & Euro-zone Final CPI (Dec.) January’s sharp monthly rise in the German ZEW index is certainly an encouraging sign, but the index still points to tough times ahead. 17th January 2012 · 1 min read
Europe Economics Update Merkel/Sarkozy summit adds to break-up risk Merkel and Sarkozy’s pledge to accelerate their contributions to the euro-zone’s bail-out fund following today’s summit was vaguely encouraging. But far more striking was their lukewarm support for... 9th January 2012 · 1 min read
Europe Commercial Property Update Will property investors shun France in 2012? Bond investors’ growing preference for German over French sovereign debt is unlikely to be mirrored fully by commercial property investors in 2012. Valuations as well as economic fundamentals suggest... 9th January 2012 · 1 min read
Europe Data Response German Industrial Production & Trade (Nov.) November’s fall in German industrial production confirmed that the recovery in what had been the strongest sector of the euro-zone’s strongest economy has gone into reverse. 9th January 2012 · 1 min read
Europe Economics Update Have we underestimated Germany? The recent rise in some of the German business surveys has prompted optimistic media reports about Germany saving the euro-zone, acting as Santa, being a twinkling Christmas star in the euro-zone... 21st December 2011 · 1 min read
Europe Data Response German Ifo Survey (Dec.) The small rise in the German Ifo index in December was a welcome surprise, but it hardly transforms the outlook for the economy. 20th December 2011 · 1 min read
Europe Data Response German ZEW Survey (Dec.) Despite rising slightly in December, the German ZEW index points to a risk of recession in the coming months. 13th December 2011 · 1 min read
Europe Commercial Property Focus What will a break-up mean for euro-zone commercial property? The economic and financial market dislocations that will arise from a break-up of the euro-zone will have severe, negative consequences for euro-zone commercial property markets. Indeed, we think that... 9th December 2011 · 1 min read
Europe Data Response German & Italian Industrial Production (Oct.) October’s German and Italian industrial production data do little to alter the likelihood that the euro-zone has fallen back into recession in the fourth quarter. 7th December 2011 · 1 min read
