Europe Data Response German Industrial Production (Jul.) July’s surge in German industrial production will clearly ease fears of an imminent double-dip, but a renewed industrial slowdown seems inevitable before long. 8th September 2011 · 1 min read
Europe Economics Update German court ruling points to troubles ahead Today’s ruling by the German Constitutional Court that bail-outs already undertaken by EU authorities were not unlawful might come as a relief to highly indebted euro-zone governments. But its... 8th September 2011 · 1 min read
Europe Data Response Euro-zone Flash CPI & Unemployment (Jul./Aug.) The news that euro-zone core inflation remained very low in August while unemployment rose further in July should reduce any remaining inflation fears at the ECB, adding to expectations of possible... 1st September 2011 · 1 min read
Europe Commercial Property Update Are German office yields too low? The recent flow of bad news on the German economy might suggest that the office market is beginning to look expensive. Yet, office/bond yield spreads are nearly as high now as they were at their peak... 26th August 2011 · 1 min read
Europe Data Response German Ifo Survey (Aug.) August’s drop in the Ifo measure of business confidence added to the growing evidence that the German economic recovery has faltered. 25th August 2011 · 1 min read
Europe Data Response Euro-zone Flash PMIs & German ZEW Survey (Aug.) August’s first business and investor surveys suggest that activity in the euro-zone is stagnating at best. With Germany showing a particularly marked deterioration lately, the region’s strongest... 24th August 2011 · 1 min read
Global Markets Update Does rising credit risk pose a threat to Bunds? The cost of insuring against a default by the German government for five years has nearly doubled since early July and now exceeds the cost of insuring against a default by the UK government for the... 18th August 2011 · 1 min read
Europe Economics Update Does Germany still want to save the euro? Germany’s reluctance or political inability to implement stronger measures to support the euro-zone’s periphery suggests that its appetite for the project might be fading. While euro-zone membership... 18th August 2011 · 1 min read
Europe Economics Update Could German courts block the bail-outs? The ongoing case in the German Constitutional Court against providing financial support for Greece is unlikely to lead to an outright ban on bail-outs. But the court could insist that Germany is... 11th August 2011 · 1 min read
Europe Data Response Italian & Spanish GDP (Q2) & German Industrial Prod. (Jun.) The latest activity data from the euro-zone support our view that the recovery in the region as a whole is slowing sharply and cast further doubt on whether the likes of Italy and Spain can meet their... 6th August 2011 · 1 min read
Europe Commercial Property Outlook Europe’s fiscal crisis will dent the occupier market recovery The weakening economic outlook for the euro-zone economy is likely to act as a brake on the recovery in commercial property markets over the next year or two. Rental value growth will moderate in most... 5th August 2011 · 1 min read
Europe Economics Weekly Slowdown spreads to Germany Data last week brought perhaps the firmest signs yet that the slowdown in euro-zone economic activity has spread to the region’s core. With exports weakening in response to slowing world demand and... 2nd August 2011 · 1 min read
Europe Data Response German Flash CPI (Jul.) & Euro-zone M3 (Jun.) July’s rise in German CPI inflation appears to have been driven by energy prices. Underlying price pressures remain subdued and with the economic recovery already slowing, there is little risk of a... 28th July 2011 · 1 min read
Europe Economic Outlook Crisis deepens as slowdown spreads to the core The latest rescue package for Greece has reduced the threat of a near-term catastrophe in the eurozone.But it does not address the fundamental problems facing Greece itself and is unlikely to bring an... 27th July 2011 · 1 min read
Europe Commercial Property Update End of the road for German industrial yield compression? We suspect that Q2’s fall in yields may mark the end of the road for the German industrial investment market recovery. As our fears of a rapid slowdown in the manufacturing recovery are borne out... 26th July 2011 · 1 min read
Europe Data Response German Ifo Survey (Jul.) July’s drop in the German Ifo index was another sign that the recovery in the eurozone’s largest and strongest economy is faltering. 23rd July 2011 · 1 min read
