Eurozone: Profits turn the corner

For years the economic picture in the eurozone has been characterized by weak growth, low increases in productivity and a gradual upcreep in unit wage costs.

Oil price collapse:Economic significance and outlook

Oil prices are of central importance for the outlook on global economic activity and inflation. In 2015 the slide in oil prices will boost growth in many economies.

Financial market and economic outlook 2015

2014 has been a remarkable year, also for us forecasters. Despite major uncertainties like the Ukraine crisis, the weakness of the Russian economy, the slowdown in Brazil, the uncertainties about the Fed’s exit from monetary accommodation and deflation fears in Europe, the world economy has not performed badly.

The ECB inflation benchmark at times of falling commodity prices

The financial markets are currently reacting extremely sensitively to changes in the rate of inflation in the euro area, with the view prevailing that every further drop in inflation flags up rising deflation risks.

The return of the long-term saver?

Judging by media reports, today’s low yield environment is a fatal threat to the life insurance & pension industry. With depressed yields, long-term savers are bound to become extinct, liquidity is king. Or so goes the siren song of the self-proclaimed augurs.

Scenarios for government debt in the eurozone

The massive compression in yield spreads for government bonds issued by the EMU "problem countries" would appear to signal the end of the acute financial crisis.

Economic forecast 2015

After a good start to the year the upswing has temporarily stalled. In the second quarter the German economy contracted slightly and business expectations have clouded over substantially compared with early in the year. A key factor behind this is the uncertain geopolitical backdrop, first and foremost the Russia/Ukraine conflict.

The impact of the low interest rate policy on private households in the eurozone

Interest rates have been in decline for the last 20 years. However, most of the time, this was a response to changes in the economic environment and the downward trend was more or less justified in fundamental terms.

German investments abroad - a bad deal?

In 2013 the German economy generated the world's highest current account surplus, overshooting the EUR 200bn mark with further rises likely in the future. The trend provides plenty of new ammunition to critics of Germany's current account surplus, which has been a hot topic of debate for years now.