31 Quotes by Holger Schmieding

The hope that Germany would be a shining European example for accelerated reforms has been dashed,

The evidence on U.K. consumption remains contradictory. Some data such as weak consumer confidence and the reluctance to use credit cards point to further weakness ahead. However, the modest rebound in the real estate market and anecdotal evidence of satisfactory Christmas indicate a modest strengthening in spending.

The ECB probably has not found a consensus yet on rate policy beyond Dec. 1. For this reason, the ECB is unlikely to provide any clear Fed-style guidance on the future course of rates,

The figures are not proof yet of an economic slowdown as they are being distorted by cutbacks in work creation programs.