Europe Economic Outlook Euro-zone recession to deepen in 2013 While the lull in the euro-zone debt crisis has continued in recent months, the news on the region’s economy has remained distinctly downbeat. Despite some improvement towards the end of last year... 9th January 2013 · 1 min read
Europe Data Response German Trade/French & Italian Industrial Prod’n (Oct.) October’ trade and industrial production figures for the euro-zone’s largest three economies brought further evidence that the recession in the region will deepen in the fourth quarter and that it has... 10th December 2012 · 1 min read
Europe Economics Focus How the core should respond to a euro break-up Sharp appreciations in the euro-zone’s core countries would threaten to damage their exports and GDP in the event of a euro-zone break-up. But there are various policies that could be implemented to... 29th November 2012 · 1 min read
Europe Commercial Property Update Will core market property yields be immune to the downturn? Outside the peripheral markets, the economic downturn in the euro-zone has yet to have a material impact on commercial property values. Yet if the recession deepens as we anticipate, the next six... 27th November 2012 · 1 min read
Europe Economics Focus How would a euro break-up affect the core? A euro-zone break-up would see the re-instated domestic currencies of the region’s core economies appreciate sharply. Without appropriate policy action, the resulting damage to exports would more than... 20th November 2012 · 1 min read
Europe Economics Update French downgrade highlights troubles in the core The direct effect of the latest downgrade of France should be modest. But it threatens to deepen the political rift between France and Germany, making policies to tackle the euro-zone’s debt crisis... 20th November 2012 · 1 min read
Europe Economics Focus How the core economies managed before the euro The common perception that the euro-zone’s core economies are inherently dependent on exports and would struggle to grow outside the single currency is misplaced. They all achieved pretty strong... 12th November 2012 · 1 min read
Europe Commercial Property Update Is the RICS survey too gloomy about occupier demand in France? Recent data from RICS showing that occupier demand in France has been falling are consistent with figures showing that office and industrial take-up has weakened significantly. The data also look... 9th November 2012 · 1 min read
Europe Economics Update French outlook darkens as consumers cut back Recent falls in French consumer spending are a blow to the economy, which has been heavily reliant on households for growth in the past. With unemployment near a record high, banks cutting back their... 31st October 2012 · 1 min read
Europe Economic Outlook A lull in the storm Expectations of stronger policy support from the European Central Bank have prompted a period of relative calm in the euro-zone. But previous lulls have not lasted for very long. There are still few... 16th October 2012 · 1 min read
Europe Commercial Property Update Fundamentals still point to rising property yields in Paris The recent rebound in French real estate equity prices suggests that our forecast for commercial property capital values in Paris to fall by a total of 15% to 20% in 2012-13 may be too pessimistic... 10th October 2012 · 1 min read
Europe Commercial Property Update Is the office development pipeline still a risk to the Paris rental outlook? The latest indicators from the Paris office market suggest that occupier demand is softening while development activity is picking up. Accordingly, our concern that the city will face a supply... 19th July 2012 · 1 min read
Europe Economics Update French Budget scotches growth lobby François Hollande’s supplementary budget is in stark contrast to his vow to favour growth over austerity. With market pressures and a weakening economic outlook forcing even France to pursue budget... 4th July 2012 · 1 min read
Europe Commercial Property Update Most European office markets to suffer drop in take-up Our recent finding that the investment component of the German national accounts data is related to office take-up volumes seems also to apply in most other European office markets. Accordingly, our... 2nd July 2012 · 1 min read
Europe Economics Weekly Bail-out talks are the next key hurdle for Greece The formation of a coalition Government headed by New Democracy has reduced the chances of Greece exiting the euro-zone imminently. But the political situation remains precarious and the Government’s... 25th June 2012 · 1 min read
Europe Economics Update Banking union is only part of the answer Talk of an EU banking union provides some hope that policymakers are starting to address one of the potential triggers for a euro-zone break-up. But the prospect of a full-blown banking union seems as... 12th June 2012 · 1 min read
