Europe Data Response German CPI (1st Est. Apr.) The latest German inflation figures show that, while the economy may be performing much better than the euro-zone’s periphery, core price pressures even there are firmly downward. 28th April 2010 · 1 min read
Europe Data Response German ZEW Survey (Apr.) April’s sharp rise in German ZEW investor sentiment provides some hope that the recovery has not ground to a complete halt after the economy’s poor start to the year. 20th April 2010 · 1 min read
Europe Commercial Property Update German office rents least at risk from excess supply Although the risk from new supply is less than in previous cycles, completions in all the major Western European office markets are likely to push vacancy rates up this year. This will keep rental... 14th April 2010 · 1 min read
Europe Data Response German Industrial Production & Euro-zone Retail Sales (Feb.) February’s data on German industrial production and euro-zone retail sales put a dent in hopes that, after stagnating in Q4 last year, the euro-zone economy will have expanded strongly again in Q1. 8th April 2010 · 1 min read
Europe Economics Focus Can Germany save the euro-zone? Increased domestic spending in Germany would not only assist the euro-zone’s troubled periphery but would also be in Germany’s own interests, helping to reduce unemployment. However, while there are... 7th April 2010 · 1 min read
Europe Commercial Property Update German labour market could weaken but offices will be unscathed While March’s fall in German unemployment was welcome news, we suspect that renewed rises lie ahead this year as ‘kurzarbeit’ subsidies begin to expire for many workers. However, given that most of... 31st March 2010 · 1 min read
Europe Data Response Euro-zone EC Survey & German CPI (Mar.) March’s EC business and consumer survey provides some encouragement that, for now, fiscal worries in the region are not weighing too heavily on overall sentiment towards the economy. But the surveys... 29th March 2010 · 1 min read
Europe Data Response Euro-zone Flash PMIs & German Ifo (Mar.) March’s increases in the euro-zone PMI and German Ifo surveys bring some encouragement that the economic recovery in the region has not ground completely to a halt, but the outlook remains fragile. 24th March 2010 · 1 min read
Europe Data Response German ZEW Survey (Mar.) & Euro-zone Final CPI (Feb.) March’s fall in German ZEW investor sentiment confirms that confidence in the economic recovery remains fairly fragile. And with euro-zone CPI inflation still very subdued, the ECB is under no... 16th March 2010 · 1 min read
Europe Data Response German Industrial Production (Jan.) The latest German industrial production figures provide some hope that the economic recovery has not ground to a complete halt. 8th March 2010 · 1 min read
Europe Commercial Property Focus Will German office rental values lag behind during the recovery? German office rental value growth lagged behind other major markets between 2004 and 2008, but we do not expect a repeat performance over the next few years. We think that the fundamental supports for... 8th March 2010 · 1 min read
Europe Data Response Euro-zone CPI (Final Jan.), Ger. & Sp. CPI (1st Est. Feb.) The latest euro-zone, German and Spanish CPI figures highlight the continued lack of inflation pressure in the region. The ECB’s main worry should be the continued threat of deflation, rather than a... 26th February 2010 · 1 min read
Europe Data Response Euro-zone EC Survey & German Unemployment (Feb.) February’s EC consumer and business survey adds to the recent run of worrying evidence on the euro-zone’s prospects. Our forecast for the economy to expand by 1.5% this year will depend on a renewed... 25th February 2010 · 1 min read
Europe Economics Update Easing German labour costs to help exporters Recent trade union deals point to a slowdown in German wage growth, which will come as a welcome relief to hard-pressed exporters. This supports our view that a robust export recovery will see Germany... 24th February 2010 · 1 min read
Europe Data Response German GDP (Q4) & Consumer Confidence (Mar.) The second German GDP release confirmed that the recovery ground to a halt in Q4, with exports still rising, but domestic spending very weak. Sadly, the latest fall in consumer confidence suggests... 24th February 2010 · 1 min read
Europe Data Response German Ifo Survey (Feb.) & French Consumer Spending (Jan.) The latest data add to the recent run of bad news. With German Ifo business sentiment falling in February and French consumer spending dropping in January, there is little hope that the euro-zone... 23rd February 2010 · 1 min read
