RaboResearch - Economic Research

Economic Update

Economic Update Germany

Sentiment indicators point toward solid growth in 13Q1, but the hard data is less convincing. Moreover, major producer confidence indicators decreased recently, indicating a slowdown of growth. Thankfully, consumers remain positive.

Economic Update

Economic Update Italy

GDP contracted sharply in 12Q4 due to weak domestic demand. Timely indicators point to a continued weak momentum. The formation of a grand coalition government is viewed positively by investors but does not imply political instability is over.

Economic Update

Economic Update Spain

The first estimate of the GDP figure showed that the recession continued during 13Q1. However, there is also more positive news. The rise of the jobless rate seems to slow down and the drop in inflation might put downward pressure on wage growth.

Economic Update

Economic Update The Netherlands

Export growth cannot counterbalance the depressed domestic demand. The unseasonably long and cold winter, however, has increased production and consumption of natural gas.

Economic Update

Economic Update Emerging Markets

Economic growth is slowing down in Emerging Markets. In China, GDP growth slowed to 7.7% yoy in 1Q13, while Brazil's industrial production figures for February were disappointing. However, growth is still expected to be slightly higher than in 2012.