RaboResearch - Economic Research

Economic Update

Conjunctuurbeeld Spanje (Dutch)

De krimp van het Spaanse BBP-volume was in 12K3 minder sterk dan verwacht. Maar dit was een tijdelijke meevaller omdat consumenten met de btw-verhoging van september in het vooruitzicht extra aankopen in augustus hebben gedaan.

Country Report

China (Country Report)

Economic growth has been slowing in China, to an estimated 7.8% in 2012. In the coming months, a major leadership transition will take place in China. The government's policies are not expected to change.

Economic Update

Economic Update Spain

The contraction of the Spanish GDP volume in 12Q3 was much smaller than expected. But this will prove to be a temporary effect, since consumers have frontloaded their spending in August to avoid paying higher VAT rates in September.

Economic Update

Economic Update Germany

The leading indicators are all weakening, pointing towards softer growth in 12Q4. Hard data are still more resilient, thanks to strong exports. Housing prices continued to rise in 12H1. Consumer confidence is improving amid a worsening labour market.

Country Report

Zambia (Country Report)

Zambia has continued to grow at a healthy pace of over 5% a year since 2000, but the country remains highly dependent international commodity price movements. The political climate is expected to remain stable following last year's elections.

Column

Zuid-Europa als rolmodel voor Frankrijk (Dutch)

Ik kom steeds vaker mensen tegen die het helemaal hebben gehad met Zuid-Europa. Naar mijn beleving gebeurt er daar echter enorm veel en ik ben er stellig van overtuigd dat de betreffende landen veel sterker uit deze crisis gaan komen.

Economic Comment

Economic visibility must improve quickly

Policy uncertainty remains high and this will have negative repercussions for growth. Thus far, financial markets have remained optimistic, but policymakers should not expect this to continue for far longer if policy visibility does not improve.

Economic Comment

How are exposures to periphery evolving?

Domestic residents of the euro periphery countries have increased their exposure to their respective governments as foreigners headed for the exit. This is an unwelcome development since it further reinforces the link between sovereigns and banks.

Special

Cooperatives and Rural Financial Development

In concordance with the UN Millennium Development Goals (MDGs), this publication deals with the importance of poverty reduction through agricultural development and the indispensability of access to financial services for rural populations in emerging and developing countries.