Commodities Update China and euro-zone PMIs paint worrying picture The first estimates of the Chinese and euro-zone manufacturing PMIs for April remained below 50 and are consistent with further sharp falls in the prices of industrial metals. Most worryingly, the... 23rd April 2012 · 1 min read
Europe Economic Outlook Crisis unsolved as growth outlook darkens Hopes that the crisis in the euro-zone had been solved by Greece’s debt restructuring and the ECB’s recent liquidity injections have faded. Despite some signs of resilience in Germany, the economic... 16th April 2012 · 1 min read
Europe Economics Weekly The ECB has limited ammunition Markets last week seized on hints from the ECB that it may restart its bond purchase programme in an attempt to contain Spanish bond yields. But there are clear doubts over whether the ECB has the... 16th April 2012 · 1 min read
Europe Commercial Property Update No improvement in euro-zone industrial rental value outlook February’s unexpected rise in euro-zone industrial production might raise hopes that the strength of industrial occupier demand in the single currency region has improved. But we are not convinced... 12th April 2012 · 1 min read
Europe Data Response Euro-zone Industrial Production (Feb.) February’s euro-zone industrial production figures were boosted by temporary factors and do not alter the bleak outlook for the overall economy. 12th April 2012 · 1 min read
Global Economics Focus What are Argentina's lessons for the euro-zone? Argentina’s experience after the collapse of the peso ten years ago supports the view that Greece, and perhaps other peripheral economies, would ultimately be better off leaving the euro-zone rather... 10th April 2012 · 1 min read
Europe Economics Weekly Draghi buries the silver bullet Any lingering hopes that the European Central Bank (ECB) had either already solved the euro-zone crises or would yet come riding to the rescue with much more decisive action were surely put to bed by... 9th April 2012 · 1 min read
Europe Economics Update ECB keeps the onus on governments The European Central Bank (ECB) hinted today that it might not be prepared to provide much more policy support and hence kept the onus firmly on governments to address the euro-zone crisis. 4th April 2012 · 1 min read
Europe Commercial Property Update Weak service sector putting the brakes on euro-zone office rent growth This morning’s PMI data suggest that business activity in the euro-zone’s service sector remains subdued. And if the past relationships between employment PMIs and office rental value growth continue... 4th April 2012 · 1 min read
Europe Chart Pack LTRO euphoria starting to fade Recent news on the euro-zone economy has dampened hopes that that the ECB’s longer-term refinancing operations (LTROs) in December and February had largely solved the euro-zone’s economic and fiscal... 3rd April 2012 · 1 min read
Europe Data Response Euro-zone Unemployment (Feb.) February’s rise in euro-zone unemployment confirmed that the resilience of the German labour market is doing little to drag up the average. With high inflation and fiscal tightening adding to the... 2nd April 2012 · 1 min read
Europe Economics Weekly Bigger firewall is a small step forward The reported plans to increase the size of the euro-zone bail-out fund - hopefully to be agreed at today’s (Friday’s) Eurogroup meeting - provide some encouragement that the policymakers have... 2nd April 2012 · 1 min read
Europe Data Response Euro-zone Flash CPI & German Retail Sales (Mar./Feb.) March’s euro-zone CPI inflation data confirmed that stubbornly high inflation is adding to the squeeze on households’ purchasing power from rising unemployment and fiscal tightening. 30th March 2012 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Mar.) Recent news from Spain suggests that the Government may be falling further behind its fiscal targets, but the other troubled euro-zone governments have made a better start to the year. 29th March 2012 · 1 min read
Europe Data Response Euro-zone EC Survey (Mar.) March’s EC business and consumer survey echoed other indicators in suggesting that what “recovery” there was in the euro-zone economy has already ground to a halt. 29th March 2012 · 1 min read
ECB Watch Close to the limit? Following the apparent success of the ECB’s recent LTROs, the Governing Council meeting on April 4th is unlikely to produce any further significant policy measures. While acknowledging the ECB’s duty... 28th March 2012 · 1 min read
