EZ Datanote: ZEW Economic Sentiment, Germany, April 2026

In one line: Expectations in April 2026 even poorer than after “Liberation Day” in April last year.

EZ Datanote: Construction Output, Eurozone, February 2026

In one line: No signs of Germany’s infrastructure spending spree before the energy shock. 

20 April 2026 Eurozone Monitor Energy shock tests Italy's fiscal rectitude more than Spain's

• Italy risks breaching the EU’s 3% deficit-to-GDP rule in the event of a prolonged energy shock.
• Spain’s budget stalemate since late 2022 gives it the fiscal firepower to mitigate the hit to its economy.
• Borrowing costs could climb higher still, but policy backstops will keep EZ bond markets relatively calm.

EZ Datanote: Industrial Production, Eurozone, February 2026

In one line: EZ industry was probably a drag on Q1 growth. 

EZ Datanote: Industrial Production, Italy, February 2026

In one line: Industrial production likely fell over Q1.

EZ Datanote: Industrial Production, Spain, February 2026

In one line: Spanish industry was performing poorly even before the energy shock. 

EZ Datanote: Retail Sales, Eurozone, February 2026

In one line: Decline will be exacerbated over the coming months.

7 April 2026 Eurozone Monitor Further rise in price pressures will keep the SNB on the sidelines

• Higher energy prices in March more than offset the disinflationary impact of the strong Swiss franc.
• But a decline in domestic inflation kept the headline rate from rising as much as the consensus expected.
• Headline inflation will rise further this year, as domestic price pressures are building.

2 April 2026 Eurozone Monitor Swiss inflation jumped in March, and will accelerate through 2026

• Higher energy prices in March more than offset the disinflationary impact of the strong Swiss franc....
• ....and likely pushed the headline inflation rate in Switzerland to 0.6%, from 0.1% in February.
• A surge in price-setting expectations suggests inflation will pick up quickly over the coming months.

EZ Datanote: Retail Sales, Spain, February 2026

In one line: Fiscal support isn’t going to save Spanish consumer spending in H1.

EZ Datanote: ISTAT Business Confidence, Italy, March 2026

In one line: Households already rattled by energy shock; industry yet to report feeling jittery.  

EZ Datanote: Flash EC Consumer Confidence, Eurozone, March 2026

In one line: Initial hit from Trump’s war is worse for EZ sentiment than his tariffs. 

17 March 2026 Eurozone Monitor SNB will stand pat, whether energy prices rise further or fall back

• The conflict in the Middle East pits energy prices and the CHF in a tug of war over Swiss imported inflation.
• A prolonged conflict would push headline CPI  to the middle of the SNB’s inflation target range this year.  
• The SNB will leave interest rates unchanged on Thursday, and also throughout 2026.

EZ Datanote: Industrial Production, Eurozone, January 2026

In one line: Higher energy costs will make a bad situation worse.

13 March 2026 Eurozone Monitor Toss the FX models; safe-haven CHF flows will override them all

• Safe-haven flows have pushed the Swiss franc close to record highs against the euro and US dollar.
• The risk of an energy shock has weakened the euro, making it harder for the SNB to weaken the franc.
• Appreciation driven by risk-on sentiment will offset downward pressure from interest rate differentials.

EZ Datanote: Sentix Investor Confidence, Eurozone, March 2026

In one line: Recovery in sentiment derailed by war in Iran. 

EZ Datanote: Industrial Production, Spain, January 2026

In one line: Spanish industry stumbled at the start of the year; downside risks loom.

EZ Datanote: Detailed GDP, Italy, Q4 2025

In one line: Surge in investment boosted Q4 growth.