With the ECB's asset purchase programme due to expire in just four months, this month's ECB meeting was remarkable for the deafening silence on what comes next. Certainly, there was almost no attempt to prepare the market for an extension of the programme beyond the statement that an abrupt end to the ECB's purchases was unlikely. The decision on what to do next was therefore deferred until December.
Given the relative lack of new data we therefore focus on Greece, where the second programme review got underway this week in Athens. While the typical narrative is that this review will be easier than the first, we wonder if this will be where the existing programme's shortfalls begin to become apparent.
Table Of Contents
Weekly Economic Briefings > Eurozone Weekly Economic Briefing > Eurozone 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
Lead Articleand#58; 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.
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.
Latest Data in Detailand#58; One to two pages of summary analysis and associated graphics that offer a 10 to 15 year snapshot of the week's data releases. .
The Week Aheadand#58; A chart of scheduled data releases including the last release and consensus forecast.
Key Indicatorsand#58; Eurozone table showing monthly percentage changes for the past year for the followingand#58; Industrial production; unemployment; CPI; business and consumer confidence; and trade.
Financial Indicatorsand#58; 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.