Europe Economics Weekly The euro-zone’s multiplying woes The IMF’s analysis suggesting that “fiscal multipliers” are rather bigger than many governments have been assuming does not tell us much that we did not already know about the euro-zone. It’s pretty... 15th October 2012 · 1 min read
Europe Data Response Euro-zone Industrial Production (Aug.) August’s rise in euro-zone industrial production suggests that GDP is unlikely to have contracted as sharply as the more downbeat business surveys suggest in Q3 12th October 2012 · 1 min read
Europe Economics Update ECB plays its cards close to its chest President Draghi reiterated the ECB’s determination to preserve the single currency at today’s interest rate press conference, but there remains a large amount of uncertainty surrounding how the... 4th October 2012 · 1 min read
Europe Chart Pack Economic outlook continues to darken The unveiling of the ECB’s new bond purchase programme may have provided markets with a lift, but further declines in business and consumer sentiment suggest that the overall eurozone economic outlook... 3rd October 2012 · 1 min read
ECB Watch Providing little more clarity on OMTs Having been lauded as being “as mighty as the Fed” after unleashing a policy “bazooka” in the form of the Outright Monetary Transactions (OMT) programme in September, the ECB is unlikely to announce... 27th September 2012 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Aug.) The latest monetary data provide no encouragement about the outlook for the eurozone. Lending to the private sector has continued to fall and the boost to banks’ lending to governments generated by... 27th September 2012 · 1 min read
Europe Data Response Euro-zone EC Survey (Sep.) September’s European Commission business and consumer survey served as another warning that the euro-zone economy is sinking into a deep recession and underlined the need for broader policy support... 27th September 2012 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Sep.) Further signs of fiscal slippage suggest that peripheral euro-zone governments will fall short of their ambitious budget deficit targets for this year. 26th September 2012 · 1 min read
Europe Data Response Euro-zone Industrial Production (Jul.) July’s rise in euro-zone industrial production has not altered our view that the economy as a whole is now in a technical recession. 12th September 2012 · 1 min read
Europe Economics Update Is the bazooka now in place? The German Court’s decision to allow the ESM to be ratified, together with the ECB’s earlier promise to meet ESM bond purchases with unlimited purchases of its own, suggests that a substantial... 12th September 2012 · 1 min read
Europe Economics Weekly Has the game really changed? While the very positive response to the ECB’s plans to undertake “Outright Monetary Transactions” (OMTs) is not entirely without foundation, it at least looks over the top. On close inspection, the... 7th September 2012 · 1 min read
Europe Economics Update Positive reaction to ECB could prove short-lived The confirmation that the ECB is prepared to buy “unlimited” quantities of peripheral government bonds looks encouraging at face value. But the details reveal that the Bank has not upped its policy... 6th September 2012 · 1 min read
Europe Economics Update Euro-zone GDP (Q2) The second euro-zone GDP release for Q2 revealed that last quarter’s contraction was down to a decline in domestic spending. With the timelier data consistent with sharper declines in activity ahead... 6th September 2012 · 1 min read
Europe Chart Pack Euro-zone back in recession Recent indicators have supported the view that the euro-zone is now firmly in recession. GDP fell by 0.2% in Q2 after stagnating in Q1 and falling by 0.3% in Q4. And the business surveys so far point... 4th September 2012 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Aug.) The latest fiscal data suggest that most of the peripheral economies will struggle to meet their budget deficit targets for 2012 without implementing further austerity measures. 3rd September 2012 · 1 min read
Europe Data Response Euro-zone EC Survey (Aug.) August’s weaker than expected EC business and consumer surveys provided further signs that the euro-zone is in a broad-based recession. This will add to the pressure on the ECB to come up with more... 30th August 2012 · 1 min read
