Europe Data Response

Euro-zone Industrial Production (May 13)

May’s euro-zone industrial production data show that the sector cannot be relied upon to generate a strong and sustained recovery.

12th July 2013 · 1 min read

Europe Economic Outlook

A fragile recovery

The European economy has shown tentative signs of improvement in recent months, with activity indicators in both Germany and some of the peripheral euro-zone countries regaining a firmer tone after...

9th July 2013 · 1 min read

Europe Economics Weekly

ECB still at the back of the pack

The ECB joined the great forward policy guidance race last week. But when it comes to the broader provision of monetary policy support, it remains firmly at the back of the pack.

8th July 2013 · 1 min read

Europe Economics Update

The ECB joins the forward guidance club

The ECB’s unprecedented step in joining other central banks in providing forward guidance on future policy is a welcome one. But it won’t transform the outlook for the euro-zone economy.

4th July 2013 · 1 min read

Europe Chart Pack

Market pressures threaten fragile recovery

Euro-zone activity indicators have maintained a slightly firmer tone over the last month, providing tentative signs of an upturn in the region’s economy. Nonetheless, those indicators generally...

3rd July 2013 · 1 min read

Europe Economics Update

Euro-zone Fiscal Monitor (Jun.)

Although the peripheral economies remain mired in recession, some fiscal progress is being made, particularly in Greece.

2nd July 2013 · 1 min read

Europe Data Response

Euro-zone Flash CPI (Jun.) & Unemployment (May)

The latest euro-zone inflation and labour market figures brought a slight note of caution after the recent improvement in some of the region’s activity indicators.

1st July 2013 · 1 min read

ECB Watch

Still mulling more support; exit remains distant

With the news that the US Fed is set to taper its QE programme hitting euro-zone financial markets, President Draghi should provide reassurance about ongoing ECB policy support at the forthcoming...

27th June 2013 · 1 min read

Europe Data Response

Euro-zone EC Survey (Jun.)

The EC consumer and business survey for June made pretty encouraging reading, but it remains too soon to conclude that the euro-zone is on the cusp of an economic recovery.

27th June 2013 · 1 min read

Europe Economics Update

Euro-zone Monetary Indicators Monitor (May 13)

May’s monetary data revealed that bank credit contracted again, reinforcing our belief that the ECB will be forced into further action by the end of the year.

27th June 2013 · 1 min read

Europe Economics Weekly

The periphery is still uncompetitive

Labour cost data released last week provided further evidence that the competitiveness gap between the euro-zone periphery and core may be narrowing. While labour costs were little unchanged or lower...

24th June 2013 · 1 min read

Global Economics Update

Further weakness in China, but some respite for euro-zone

The so-called “flash” PMIs for the US, euro-zone and China – economies which together account for nearly half of world GDP – give us an early indication of how the global economy is performing in June...

20th June 2013 · 1 min read

Europe Data Response

Euro-zone Flash PMIs (Jun.)

June’s euro-zone PMI survey continued the upward trend of recent months, but still suggests that the euro-zone economy contracted for a seventh quarter running in Q2.

20th June 2013 · 1 min read

Europe Economics Update

Could a global bond sell-off reignite the euro-zone crisis?

A further rise in global bond yields could push borrowing costs for some euro-zone governments back towards danger levels and underline the limitations of the ECB’s OMT programme.

19th June 2013 · 1 min read

Europe Economics Weekly

Will deflation settle the ECB debate?

The commencement last week of the German Constitutional Court hearing into the legality of the European Central Bank’s Outright Monetary Transactions (OMTs) programme has re-stoked the debate over the...

17th June 2013 · 1 min read