Eurozone Weekly Economic Briefing: 03 Feb 2012
Oxford Economics
February 3, 2012 6 Pages - SKU: OFE6799156
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| According to the latest bank lending survey, credit conditions in the Eurozone tightened sharply during 2011Q4. The tightening of credit standards has been caused by higher funding costs for banks, coupled with difficulties in raising funds in the wholesale market, with banks' balance sheet constraints and the sovereign debt crisis major factors. Although the three-year loans offered by the ECB to banks are bringing some relief, we expect credit conditions to remain very tight this year as banks will continue to face financing difficulties and the need to adjust to higher capital ratios. This is likely to imply lower levels of credit available to the economy, curbing investment and consumption. An even more severe credit crunch than we currently envisage could tip the Eurozone into a deep recession and raise the risk of a break-up.
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- Eurozone Weekly Economic Briefing: The following represents a general Table of Contents outline for the Eurozone Weekly Economic Briefing. The actual report may cover any or all of the topics listed below.
- Eurozone Weekly Economic Briefings
- 1. Lead Article: Two to five page briefing headed by a synopsis of events-driven analysis for the week, which highlights most recent data releases, and political and economic developments.
- 2. Historical, forecast, and analytical charts and graphs support the lead article. Country specific and/or Eurozone charts include the most relevant indicators and exemplify any changes in the outlook. The historical charts typically offer a 10 to 15 year time series and cover headline and other relevant indicators including GDP, employment, inflation, exchange rate changes, consumer and business confidence, developments in the capital markets, the composition of sovereign debt including amortization schedules and changes in yields, economic outlook by sector, etc. The forecast charts typically look out to four years ahead. In addition, analytical graphics clearly present empirical evidence supporting the text.
- 3. Latest Data in Detail: One to two pages of summary analysis and associated graphics that offer a 10 to 15 year snapshot of the week’s data releases. .
- 4. The Week Ahead: A chart of scheduled data releases including the last release and consensus forecast.
- 5. Key Indicators: Eurozone table showing monthly percentage changes for the past year for the following: Industrial production; unemployment; CPI; business and consumer confidence; and trade.
- 6. Financial Indicators: Eurozone table showing monthly percentage changes for the past year for interest and exchange rates, money supply, share price indices and net foreign direct investment.
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