Europe Data Response Euro-zone Industrial Production (Dec.) December’s small fall in euro-zone industrial production was probably down to the unusually severe winter weather and does little to alter the view that the sector remains the key driver behind the... 14th February 2011 · 1 min read
Europe Economics Weekly A weak end to 2010 On the face of it, recent data suggest that the euro-zone is on track to expand at a pretty healthy pace in Q4. But we suspect that the disruption caused by the bad weather will mean that Q4’s growth... 14th February 2011 · 1 min read
Europe Economics Weekly The Grand Bargain - bazooka or popgun? Peripheral euro-zone bond yields fell further last week in apparent anticipation of the so-called “Grand Bargain” of policy measures. But the markets’ optimism raises the danger that the package falls... 7th February 2011 · 1 min read
Europe Economics Update ECB keeps its finger off the trigger The lack of a further step-up in the ECB’s anti-inflation rhetoric today supports our view that the Bank is unlikely to tighten policy in the near future. Nonetheless, its generally hawkish stance... 3rd February 2011 · 1 min read
Europe Data Response Euro-zone Unemp. (Dec.), Ger. Unemp. & E-Z Manu PMI (Jan.) The latest euro-zone data provide encouraging signs that the economic recovery is filtering through to the labour market and that the industrial sector is still expanding strongly. But large... 1st February 2011 · 1 min read
Europe Commercial Property Outlook Commercial property recovery to run out of steam in 2011 Much of the coverage of the wider fall-out from the crisis in Egypt has focused on the potential impact on oil prices, but this threat to the global recovery is almost certainly exaggerated. Instead... 28th January 2011 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Jan.) The latest euro-zone money and credit data continue to suggest that inflationary pressures in the region as a whole remain subdued, adding to evidence that the recent sharp rise in the headline CPI... 28th January 2011 · 1 min read
Europe Data Response Euro-zone EC Survey (Jan.) January’s EC business and consumer survey adds to evidence that the euro-zone economy has made a pretty good start to the year. But the recovery remains heavily reliant on the industrial and external... 27th January 2011 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Jan.) Most of the peripheral euro-zone economies appear to have made some inroads into their large budget deficits last year, with Spain taking the lead. 25th January 2011 · 1 min read
Europe Data Response Euro-zone CPI (Final, Dec.) & Trade (Nov.) December’s final euro-zone CPI inflation figures should calm fears that underlying inflation pressures are building. But with headline CPI inflation likely to rise in early 2011, the ECB’s stance... 14th January 2011 · 1 min read
Europe Data Response Euro-zone Industrial Production (Nov.) November’s healthy rise in euro-zone industrial production adds to evidence that the recovery continued in Q4. But the ever-widening divergences between different countries continue to cast doubts on... 12th January 2011 · 1 min read
Europe Economics Weekly Rise in euro-zone inflation to prove short-lived The euro-zone economic data released since Christmas has been fairly encouraging and suggests that, for now at least, the region continues to expand at a pretty healthy pace. But on the face of it... 10th January 2011 · 1 min read
Europe Data Response Euro-zone Unemp. (Nov.) & GDP (Q3) & German IP (Nov.) The latest euro-zone data once again highlight the huge divergences that are building up in the region and may also add to fears that the industrial recovery is failing to spread to other sectors of... 7th January 2011 · 1 min read
ECB Watch ECB to stand pat amidst conflicting forces Once again, the ECB faces the tough task of balancing a raft of bad news from the euro-zone’s periphery with the more positive developments elsewhere and the fact that CPI inflation has risen above... 6th January 2011 · 1 min read
Europe Data Response Euro-zone EC Survey (Dec.) December’s EC business and consumer survey suggests that, for now at least, the improving global economic outlook is offsetting the ongoing troubles in the periphery. 6th January 2011 · 1 min read
Europe Data Response Euro-zone Flash CPI & German Unemployment (Dec.) December’s bigger-than-expected rise in euro-zone CPI inflation probably reflected energy and food effects. Underlying price pressures in the region remain very weak. 4th January 2011 · 1 min read
