Europe Economics Update Euro-zone Fiscal Monitor (Feb. 13) Greece, Ireland and Portugal continued to make solid fiscal progress at the beginning of 2013. But Italy and Spain are likely to have missed their fiscal goals for 2012. 26th February 2013 · 1 min read
Europe Economics Update Has the EC softened its stance on austerity? Recent hints that the European Commission could grant further extensions to governments that are missing their deficit targets provide hope that the Commission will not force austerity regardless of... 25th February 2013 · 1 min read
Europe Commercial Property Chart Pack Occupier and investment markets diverge The pace of economic contraction in the euro-zone stepped up a notch in the final quarter of 2012. Yet sentiment towards the region has improved. As a result, although the underlying drivers of... 22nd February 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Feb.) The fall in the composite euro-zone PMI in February puts a dent in hopes that the region will emerge from recession in the first quarter. 21st February 2013 · 1 min read
Europe Data Response Euro-zone Consumer Confidence (Feb.) The EC consumer confidence survey rose for the third consecutive month in February in line with the general pick up in sentiment across the euro-zone. But the survey remains consistent with further... 20th February 2013 · 1 min read
Europe Economics Focus Have the peripheral economies regained competitiveness? Official figures appear to suggest that the peripheral countries are successfully restoring competitiveness through internal devaluation. Since peaking in 2008/09, whole economy unit labour costs... 18th February 2013 · 1 min read
Europe Economics Update German exports to outperform despite stronger euro The recent rise in the euro exchange rate is likely to hit Germany and Finland hardest given their strong trade links with non-euro-zone countries. But with exports from the south and periphery set to... 18th February 2013 · 1 min read
Europe Economics Focus Can the ECB follow words with actions? Mario Draghi’s hints that the ECB might respond to the threat posed by the strength of the euro begs the question of just what action it could take. While there are plenty of policy options still... 14th February 2013 · 1 min read
Europe Data Response Euro-zone GDP (Q4) Q4’s bigger than expected fall in euro-zone GDP underlined the fact that, while sentiment towards the region has improved, the hard news on the economy remains distinctly weak. 14th February 2013 · 1 min read
Europe Data Response Euro-zone Industrial Production (Dec.) December’s rise in euro-zone industrial production does not alter the fact that GDP probably contracted pretty sharply in Q4. 13th February 2013 · 1 min read
Europe Economics Weekly Mariodona’s words won’t be enough Mario Draghi halted the rise of the euro last week merely by hinting that the ECB might respond to the currency’s strength. But with other central banks taking action to weaken their currencies, we... 11th February 2013 · 1 min read
Europe Commercial Property Update Four reasons not to get carried away by better real estate equity prices The recent strength of European real estate equity prices would be consistent, on past form, with increases in physical property capital values this year. But we think there are four reasons why it is... 8th February 2013 · 1 min read
Europe Economics Update ECB softens its tone slightly, but makes no promises The European Central Bank (ECB) took a slightly softer tone this month, acknowledging that a stronger exchange rate might alter the inflation outlook. But President Draghi stopped a long way short of... 7th February 2013 · 1 min read
Europe Economics Update The strong euro won’t be all bad - just mostly The rise in the euro is not unambiguously bad for the euro-zone economy. But the negatives are likely to outweigh the positives. 6th February 2013 · 1 min read
Europe Economics Update TARGET2 still points to big problems While the recent slight reduction in TARGET2 imbalances echoes other signs of improvement in the euro-zone, they still point to serious underlying problems in the economy and banking sector. 5th February 2013 · 1 min read
Europe Data Response Euro-zone Retail Sales (Dec.) & Final PMI Survey (Jan.) December’s fall in euro-zone retail sales confirmed that the consumer sector remains under strain and supported other evidence that GDP fell sharply in Q4. But January’s final PMI survey added to... 5th February 2013 · 1 min read
