Europe Economics Weekly The unhelpful divergence between France and Germany Data released last week suggested that the euro-zone recovery gained more traction at the start of Q2. But there remains a worrying divergence between France and Germany which risks holding back the... 28th April 2014 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Apr.) Despite the euro-zone composite PMI rising in April to its highest level in nearly three years, economic growth is not yet strong enough to diminish fears of deflation. 23rd April 2014 · 1 min read
Global Markets Update ECB’s QE unlikely to be the panacea that markets hope The ECB looks increasingly willing to implement some form of explicit quantitative easing (QE) soon. However, the market impacts may be smaller and more varied than widely hoped. 22nd April 2014 · 1 min read
Europe Economics Update Five key questions on QE in the euro-zone The European Central Bank (ECB) appears finally to be seriously considering the option of implementing quantitative easing (QE). While we have long argued that QE in the euro-zone was a more likely... 22nd April 2014 · 1 min read
Europe Economics Weekly Negative rates are no silver bullet on their own A negative interest rate on banks' excess reserves at the ECB might have some effect on banks' behaviour and at least prove that the ECB is prepared to follow its dovish words with action. But it must... 21st April 2014 · 1 min read
Europe Economics Update Can the ECB get the euro down? The ECB’s battle against deflation is turning into a fight to lower the euro exchange rate. But it is far from clear that the central bank will act sufficiently to bring the currency down far enough. 15th April 2014 · 1 min read
Europe Data Response German ZEW Survey (Apr.) & Euro-zone Trade (Feb.) April’s ZEW survey brought further evidence of strength in the German economy. But the fall in expectations raises some concerns over the medium-term outlook. 15th April 2014 · 1 min read
Global Economic Outlook West to outperform East The world economy should expand steadily in the coming two years, helped by an increasingly strong recovery in the US. However, while the euro-zone has stabilised, it is not growing fast enough to... 14th April 2014 · 1 min read
Europe Economics Update ECB belatedly waking up to deflation dangers Recent speeches from officials suggest that the ECB has finally accepted that the threat of deflation in the euro-zone warrants further policy action. But it is far from clear that any action will be... 14th April 2014 · 1 min read
Europe Data Response Euro-zone Industrial Production (Feb.) February’s euro-zone industrial production figures confirmed that the sector has made a weak start to 2014 and highlighted the slow and fragile recovery both in industry and in the euro-zone economy... 14th April 2014 · 1 min read
Europe Economics Weekly Greek debt issue doesn't end the broader crisis Greece’s return to the bond markets last week might appear to mark the end of the euro-zone crisis which began when the true extent of the same country’s fiscal problems came to light in 2010. But... 14th April 2014 · 1 min read
Europe Economic Outlook Deflation dangers persist The recovery in the European economy appears to have picked up a bit of speed in the early months of 2014. The euro-zone now looks set to expand by 1% or more this year, a significant improvement on... 10th April 2014 · 1 min read
Europe Economics Weekly ECB to follow words with actions before long Although President Draghi adopted a softer tone at last week’s interest rate press conference, the ECB decided to once again keep its powder dry. However, given the weak recovery and subdued inflation... 7th April 2014 · 1 min read
Global Economics Chart Pack US rebounds but China and Japan slowing The global economy is healing, but the pace of recovery differs markedly between countries. The US is now rebounding from its weather-induced slowdown and the euro-zone is steadily gaining momentum... 4th April 2014 · 1 min read
Europe Commercial Property Update What do jobs data imply for the peripheral occupier markets? Since the crisis, employment in the periphery has underperformed the euro-zone average. But recent data does at least show some positives for Portugal. And while sustained employment growth in Spain... 4th April 2014 · 1 min read
Europe Economics Update ECB edging towards more action Although the ECB left policy on hold again today, President Draghi turned his dovish rhetoric up a further notch. With the economic recovery set to remain too weak to diminish the threat of deflation... 3rd April 2014 · 1 min read
