Europe Data Response Euro-zone EC Survey, German Unemp. (Nov.) & Spa. GDP (Q3) November’s rise in the EC’s euro-zone Economic Sentiment Indicator (ESI) is a comforting sign given the recent falls in other indicators, like the composite PMI, but we still expect the recovery to... 28th November 2013 · 1 min read
Europe Economics Weekly Signs of growth convergence provide little comfort Q3's meagre rise in euro-zone GDP clearly was disappointing, but there were some signs that growth within the region is converging. The slowdown was largely down to weaker growth in Germany and France... 18th November 2013 · 1 min read
Europe Economics Update Spain's fiscal prospects look brighter than Italy's Spain still faces major economic challenges, but we think that prospects there are brighter than in Italy where the medium-term outlook for the public finances remains pretty dire. Accordingly, we... 11th November 2013 · 1 min read
Europe Commercial Property Chart Pack Robust investment market built on shaky fundamentals The improvement in the euro-zone economy has supported a relatively active quarter for commercial property investment in Q3. Moreover, some types of investors have become increasingly willing to look... 6th November 2013 · 1 min read
Europe Commercial Property Update Investment case for Italy weaker than Spain The recent return of some international investors to commercial property markets in Spain and Italy seems to reflect the rapid turnaround in sentiment in both economies over the past year or so. Our... 30th October 2013 · 1 min read
Europe Economics Update Is Spain really on the path to recovery? Q3’s GDP estimate from the Bank of Spain suggests that the economy has finally emerged from its two year long recession. But we doubt that the economy will generate a strong enough recovery to bring... 23rd October 2013 · 1 min read
Europe Economic Outlook Growth prospects improve, but crisis unresolved The European economy has shown further signs of recovery, with the euro-zone finally emerging from recession in the second quarter and other parts of the continent also faring better. But growth in... 8th October 2013 · 1 min read
Europe Commercial Property Update Will Spanish property yields close the gap with core markets? The factors which have supported the sharp narrowing of the spread between Spanish and German government bond yields over the past year or so should also be supportive of Spanish property values... 8th October 2013 · 1 min read
Europe Economics Focus Is Spain finally getting its casa in order? Spain has begun to resolve some of its deep economic problems and its recession has eased. But the strong recovery needed to lower unemployment dramatically and ensure that public sector debt does not... 16th September 2013 · 1 min read
Europe Economics Weekly Is Spain staging an export-led recovery? Last week’s data from Spain were pretty encouraging – in particular, the PMI export orders index for August suggested that Spain’s robust export recovery continued in Q3. But other data indicate that... 9th September 2013 · 1 min read
Europe Data Response German & Spanish Ind. Prod./ German & French Trade (Jul.) Data for July revealing falls in German and Spanish industrial production and a deterioration of Germany and France’s trade balances support our view that the eurozone’s economic recovery will be very... 6th September 2013 · 1 min read
Europe Commercial Property Update What can we glean from regional unemployment data in the euro-zone? Unlike in Germany, regional labour market data from elsewhere in the euro-zone do not give much of a steer on the likely near-term paths of local office market vacancy rates. However, they do suggest... 6th September 2013 · 1 min read
Europe Economics Update Spanish house prices still have much further to fall There is little sign that the Spanish housing downturn will come to an end any time soon. Not only does this spell bad news for households, it will also pile even more pressure on the troubled banks. 22nd July 2013 · 1 min read
Europe Economics Update Is the Spanish labour market really on the mend? Some commentators have pointed to the recent run of encouraging Spanish unemployment figures as evidence that the green shoots of recovery may be emerging there. But we are far from convinced that the... 16th July 2013 · 1 min read
Europe Commercial Property Update Is it possible that Spanish property is now a good bet? Improvements in Spanish economic sentiment suggest that the recession has eased in the second quarter. Given that there is plenty of headroom for Spanish office and industrial capital values to rise... 20th June 2013 · 1 min read
Europe Data Response Euro-zone GDP (Q1) Q1’s flash euro-zone GDP estimate confirmed that while the euro-zone economy performed rather better in Q1 than Q4, it remained in recession. 15th May 2013 · 1 min read
