ING’s Eurozone Quarterly: A late-cycle economy?

Rising protectionist sentiment, the populist wave across Europe, a looming Brexit deadline and talks of a maturing cycle are all factors that seem to be playing a part in the slowdown of Eurozone’s growth. One could say the expansion is now in late summer: the temperature still feels nice, but we know that the best is behind us

In this bundle

Eurozone: That late summer feeling

The Eurozone economy is still showing decent growth, but the pace of growth is likely to level off over the next two years, as the international…

Germany

Germany: Late is not too late

Between the late-cycle and the golden decade, the German economy is experiencing an unusual fluctuation in high-frequency data but the underlying trend…

France

France: Emmanuel Macron 2.0

After a difficult summer which saw his approval ratings plummet, President Macron is starting his second year in a weaker position. If the number of…

Italy

Italy: Budget test for the 5SM/League government

The inconsistencies between a challenging 5SM/League attitude on budgetary issues and finance minister Tria’s reassuring statements finally seem…

The Netherlands

The Netherlands: Domestic momentum stays

The Dutch economy continues to grow above potential thanks to strong domestic demand, and as long as hard Brexit and trade war fears don't…

Spain

Spain: Political challenges ahead as the economy slows down

The next couple of weeks are likely to be stressful for the Spanish prime minister as he confronts a number of thorny issues. Meanwhile, evidence of a…

Greece

Greece: Thinking about life after the bailout programme

The almost ‘clean’ exit from the third programme leaves Greece with many challenges ahead, the first of which will be devising a sustainably…

Belgium

Belgium: An election year in sight

The Belgian economy continues to grow at a moderate pace. Having said that, the labour market is still doing well. In the short term, we don’t…

Austria

Austria: Still enjoying the isle of happiness

2018 marks another boom year for the Alpine republic, but for 2019 and 2020 we expect a gradual return to average growth levels cooling down to 2.2% and…

Ireland

Ireland: Fingers crossed for a deal

The Irish economy continues to show healthy signs of growth despite the Brexit uncertainty. While a no deal scenario could have significant ramifications,…

Portugal

Portugal: On track for another good year

The government continues to focus on reducing public debt and the deficit however strong house price growth is becoming a concern. We expect the economy…

Finland

Finland: Peak growth?

The Finnish economy continues to outpace the Eurozone average in 2018, but a maturing cycle, weakening competitiveness and more uncertainty about the…

Eurozone housing market cycle is maturing

The residential real estate market has been recovering in the Eurozone since 2012. However, ECB’s quantitative easing program has boosted prices…

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