Non-Euro Europe Commercial Property Outlook Solid outlook for returns despite a handful of downgrades The non-euro-zone economies and property markets have generally started the year positively. We expect further improvement in GDP growth in most countries to support expansionary occupier demand, with... 4th June 2015 · 1 min read
Emerging Europe Data Response Russia CPI (May) The drop in Russian inflation to 15.8% y/y in May confirms that it has now passed its peak. We expect inflation to ease slowly over the next three to six months before falling sharply around the turn... 4th June 2015 · 1 min read
Emerging Europe Economics Update Polish MPC a little less dovish, but nothing to suggest rate hikes The Polish MPC’s press release, which followed the decision to leave interest rates unchanged earlier today, suggested that the Council is slightly more upbeat on the economy’s growth prospects and... 3rd June 2015 · 1 min read
Emerging Europe Data Response Turkey CPI (May) & Hungary Retail Sales (Apr.) The rise in Turkish inflation in May, to 8.1% y/y, was driven by a pick-up in core price pressures and provides further evidence that the economy’s inflation problems are escalating. Elsewhere... 3rd June 2015 · 1 min read
Emerging Markets Economics Update EM manufacturing PMIs point to modest signs of improvement May’s manufacturing PMIs brought the first signs that the recent slump in manufacturing across the emerging world may be bottoming out. But there remain huge differences in performance. May’s... 2nd June 2015 · 1 min read
Emerging Europe Economics Focus Turkey’s election: potential outcomes and market implications Fears ahead of Turkey’s parliamentary election on 7th June have centred on the risk of a dominant and increasingly authoritarian AK Party under President Erdogan , but in another twist to the plot the... 1st June 2015 · 1 min read
Emerging Europe Data Response Manufacturing PMIs (May) May’s batch of manufacturing PMI data for Emerging Europe provided further evidence that the slump in the Russian economy has deepened in the second quarter. But the surveys finally brought some... 1st June 2015 · 1 min read
Emerging Markets Activity Monitor EM slowdown shows no sign of abating The slowdown across emerging markets is showing no sign of easing, with our latest GDP Tracker suggesting that growth is now running at 3.7% y/y – its lowest rate since September 2009. Much of the... 28th May 2015 · 1 min read
Emerging Europe Economics Update Equities weaken, bond yields rise Financial markets in Emerging Europe have generally performed poorly over the past month, with equities having dropped back and the region’s bonds having been hit by the sell-off in developed... 28th May 2015 · 1 min read
Emerging Europe Data Response Economic Sentiment Indicators (May) May’s Economic Sentiment Indicators (ESIs) for Eastern Europe were a mixed bag, but overall the surveys still point to strong growth. There were few signs that the unfolding problems in Greece have... 28th May 2015 · 1 min read
Emerging Europe Economics Focus Is the worst really over for Russia? The slump in activity data for April put an end to hopes raised in some parts of the government (and markets) that the worst is over for the Russian economy. The steep falls in output are likely to be... 27th May 2015 · 1 min read
Emerging Markets Economics Update Taking stock of a grim Q1 First quarter GDP data that have so far been released by EMs have painted a pretty grim picture. In this Update we outline the three key themes that have emerged. 27th May 2015 · 1 min read
Europe Commercial Property Update Office rents in Prague and Warsaw to buck the positive trend in 2015 The Czech and Polish economies are motoring along nicely. However, the latest IPF Consensus Survey shows that our view, that solid demand fundamentals will be swamped by excess supply, causing rents... 27th May 2015 · 1 min read
Emerging Europe Economics Update EM inflation has troughed The big drag on EM inflation from the drop in commodity prices over the second half of last year will ease over the coming months. With inflation set to rise in most EMs over the second half of this... 27th May 2015 · 1 min read
Emerging Europe Economics Update Window for further Hungarian rate cuts is closing 26th May 2015 · 1 min read
Emerging Europe Economics Update Law and Justice victory raises populism concerns in Poland Victory for Andrzej Duda of the Law and Justice Party in Sunday’s Polish presidential election has raised concerns about a shift towards more populist policymaking and taken some of the shine off... 26th May 2015 · 1 min read
