Europe Economics Focus Can Spain take the pain? Markets may have become more confident that Spain can get its public finances under control. But if Spain is to restore external balance within the euro-zone, it may have to accept a decade of... 25th August 2010 · 1 min read
Europe Commercial Property Update World Cup triumph does not improve the Spanish retail outlook While it is not unreasonable to suggest the Spanish retail property market could be boosted by the national team’s World Cup success, unfortunately we think other factors will continue to provide far... 12th July 2010 · 1 min read
Europe Commercial Property Update Recovery in Spanish retail rental values is a distant prospect Following the plunge in May, June’s small rise in Spanish consumer confidence does little to improve the outlook for the Spanish retail property market. Indeed, with retail sales volumes unlikely to... 6th July 2010 · 1 min read
Europe Economics Update Spain faces an uphill battle to ease markets’ fears The latest ratings downgrade of Spanish Government debt has triggered a new wave of concern in the markets. While Spain’s problems are far less acute than those of Greece, the Government still faces a... 3rd June 2010 · 1 min read
Europe Data Response Euro-zone PPI (Apr.)/Spanish Unemp. & Con. Conf. (May) April’s sharp rise in euro-zone producer price inflation may prompt concerns that inflationary pressures are building. But we continue to think that deflation, rather than a surge in inflation is the... 2nd June 2010 · 1 min read
Europe Data Response Spanish GDP (Q1) The latest Spanish GDP figures confirm that the economy just about exited recession at the start of the year. But with the Government recently announcing new austerity measures and the private sector... 19th May 2010 · 1 min read
Europe Economics Update Iberian economies still facing an uphill struggle The bold measures announced by European policymakers at the weekend may have reduced the chance of financial market meltdown. But this does not change our fundamental view that the Iberian Peninsula... 11th May 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 E-Z Trade Balance (Dec.) & Spanish GDP (Q4) December’s healthy rise in euro-zone exports suggests that exporters are continuing to cope with the strong euro. But the cost has been a sharp squeeze in firms’ margins. This casts doubts on whether... 17th February 2010 · 1 min read
Europe Economics Update The pain in Spain remains Q4’s GDP figures confirmed that Spain is one of a dwindling group of economies still in recession. And with its economic imbalances still largely intact, a meaningful recovery remains a distant... 11th February 2010 · 1 min read
Europe Economics Weekly The spotlight turns on Portugal and Spain Last week, the noose around the Greek Government’s neck loosened slightly. But markets are still baying for blood – Portugal and Spain are their new targets. Neither Portugal nor Spain have quite the... 8th February 2010 · 1 min read
Europe Commercial Property Update Spanish retail rents: further to fall Spanish retail rents have held up surprisingly well given the severe downturn in the consumer sector. However, with unemployment at nearly 20%, household debt levels high and taxes set to rise this... 4th February 2010 · 1 min read
Europe Economics Update Spanish house prices have further to fall The latest Spanish housing market data suggest that the residential property downturn continued to ease in the latter part of 2009. Nonetheless, we think that house prices still have much further to... 15th January 2010 · 1 min read
Europe Commercial Property Update Spanish retail recovery not yet in sight as confidence falls in October October’s fall in the ICO measure of Spanish consumer confidence was not all bad news for property markets; confidence is still much higher than it was six months ago and expectations for the future... 3rd November 2009 · 1 min read
Europe Economics Update Spanish house prices set to fall much further The latest Spanish housing market data suggest that residential property prices are no longer falling as sharply as they were at the turn of the year. Nonetheless, we think the housing market downturn... 15th October 2009 · 1 min read
Europe Commercial Property Update What has happened to industrial yields in Iberia? Industrial yields in Spain and Portugal moved out sharply in the first half of 2009. This is not surprising given the outlook for rental values in these economies as the recession bites. We expect... 3rd September 2009 · 1 min read
