Europe Economics Update ECB purchases may have little lasting impact The ECB’s purchases of Italian and Spanish Government bonds have drawn a very positive initial response in the markets. But there are some good reasons to doubt that it will be sustained. 9th August 2011 · 1 min read
Europe Economics Weekly Italy’s debt dynamics worsen Prior to the announcement of the second rescue package for Greece, we noted that anything other than a very decisive response by European policymakers could prompt Italy and Spain to be dragged deeper... 9th 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 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 Economics Update Last chance saloon for euro-zone policymakers? This week’s crucial summit could provide the last chance for euro-zone policymakers to get a grip on the region’s debt crisis. Anything other than a very decisive response which could be applied not... 20th July 2011 · 1 min read
Europe Economics Update Italy’s troubles raise risk of euro-zone break-up The growing recognition that highly indebted economies need more than temporary loans has caused the spotlight to turn on Italy. With EU taxpayers unlikely to stump up enough cash to rescue such a... 14th July 2011 · 1 min read
Europe Economics Update The beginning of the end for the euro? The continued failure of European policymakers to agree on a new package to support Greece and the growing signs that larger economies like Spain and Italy are being dragged further into the crisis... 13th July 2011 · 1 min read
Europe Commercial Property Update Office yields in Milan likely to fall behind core euro-zone markets Despite concerns about its solvency, financial markets are still giving the Italian economy the benefit of the doubt. For now, property investors are treating Milan’s office market in a similar... 2nd July 2011 · 1 min read
Europe Data Response Italian & Portuguese GDP (Breakdown, Q4) The Italian and Portuguese Q4 GDP expenditure breakdowns add to evidence that the divergence in economic growth between the northern and southern euro-zone economies is unlikely to narrow... 11th March 2011 · 1 min read
Europe Commercial Property Focus Investment case for the Italian retail market remains weak Italy’s historic position as one of the euro-zone’s most expensive retail markets might suggest that the recent stability of Italian retail yields, while yields in other euro-zone markets have fallen... 8th February 2011 · 1 min read
Europe Economics Update Italian industrial sector defying gravity Recent news from Italy suggests that the industrial recovery is going from strength to strength. Nonetheless, we doubt that this marks the start of an Italian renaissance. Indeed, there are several... 11th October 2010 · 1 min read
Europe Data Response Italian GDP (Q2), Italian & French Industrial Production (Jul.) Q2’s Italian GDP figures confirmed that Italy continued to expand at a pretty healthy pace last quarter. But we think that the recovery may already have run its course and that there is a strong... 10th September 2010 · 1 min read
Europe Economics Update Political turmoil unlikely to threaten Italy's public finances Since Italy has already put in place measures to reduce its budget deficit over the next couple of years, the current political uncertainties do not pose a major risk to the near-term outlook for the... 9th August 2010 · 1 min read
Europe Data Response German Industrial Production (Jun.) & Italian GDP (Q2) German industrial production data and GDP estimates from Italy and Spain confirm that the euro-zone recovery gained pace in Q2, with Germany far in the lead despite June’s small fall in production. 6th August 2010 · 1 min read
Europe Commercial Property Update Italy: the best of a bad bunch? The Q2 2010 RICS global commercial property survey points to a divergence in commercial property performance between Italy and the rest of the so-called “PIIGS”. That is consistent with our view that... 26th July 2010 · 1 min read
