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09/08/2017
Economic Publications

All Coface Publications

09/08/2017
Corporate Publications

Central and Eastern Europe: Less business insolvencies despite temporary headwinds in the construction sector

Despite some slowdown last year, average GDP growth remained at a solid level of 2.9% in Central and Eastern Europe. Economies have been benefiting from the favourable situation on the labour market, with contracting unemployment rates and rising wages. The improving macroeconomic environment has had positive effects on business. Company insolvencies dropped by 14% in 2015 and a further 6% in 2016. Over the course of last year, 6 entities per 1,000 became insolvent.

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08/07/2017
Economic Publications

Latin America: The winners and losers of “Trumponomics”

Political changes in the US have caused uncertainty over the trade policies that could be implemented and the region’s vulnerability to tighter financial conditions. Since Donald Trump’s victory, the currencies of many emerging countries have fallen against the dollar. Mexico’s currency was the most greatly affected in the world, with 19 % depreciation against the USD in 2016. This is the country’s worst depreciation since the Tequila crisis in 1994. By contrast, the US stock market reacted positively following Trump’s victory announcement.

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07/24/2017
Economic Publications

FOCUS - Tough Funding Conditions for GCC Corporates

Oil prices declined by around 75% between mid-2014 and January 2016, with Brent crude prices falling as low as $28 a barrel. Since then, prices have risen back up by nearly 85%, to around $50 a barrel. Nevertheless, persistently low prices are continuing to weigh on liquidity conditions across Gulf Cooperation Council (GCC) countries. Firstly, these countries are still heavily dependent on oil, despite efforts made towards greater economic diversification.

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06/08/2017
Economic Publications

Panorama - In the face of Brexit, are British businesses left to sink or swim?

One year after the “yes” vote for Brexit, seen as traumatic, the time has come for the United Kingdom to accelerate the implementation of its exit from the European Union (EU). Prime Minister Theresa May wants to have free rein by calling early legislative elections on 8 June, where her victory is expected.

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06/06/2017
Economic Publications

Russia – From Recession to Recovery

Between 1999 and 2008, Russia’s GDP grew by an average of almost 7% per year. In 2009, the fall in oil prices led to a severe recession (-7.8%). Subsequently, the effect of factors that had supported growth ceased

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05/18/2017
Economic Publications

Panorama - UAE payments survey : slight payment delays expected, due to slower growth

At a time when businesses are facing a decline in demand and liquidity issues, a sharper look into payment behaviour is a must.

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05/04/2017
Economic Publications

Panorama - Labour Shortages in Central and Eastern European Countries (CEE)

Labour markets in the Central and Eastern Europe (CEE) region are continuing to improve. Unemployment rates have reached the lowest levels ever recorded and most CEE economies are enjoying lower unemployment than the EU average.

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05/04/2017
Economic Publications

Focus - Insolvencies in the construction industry in France: Interest Rates are Key

Since the low of 2014, glimmers of recovery have been seen in the construction industry. Corporate insolvencies are declining. French households are increasingly attracted by bricks and mortar as their purchasing power is at its strongest since 2003, particularly due to interest rates also being at historic lows.

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04/06/2017
Economic Publications

Panorama: RMB depreciation - What are the implications for Chinese corporates?

The potential depreciation of the renminbi (RMB), along with the implementation of capital flow measures, are longstanding concerns for China.

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04/06/2017
Economic Publications

Panorama - The rise and rise of political risks

Political risk seems to have been at the core of concerns since 2016, following numbers of articles and editorials on the topic.

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04/06/2017
Economic Publications

Panorama - Coface Global Growth

Signs of a recovery in global growth are multiplying at the start of 2017. Companies are more confident. If the uptrend in inflation in developed economies and in China takes shape in coming months and does not only concern energy prices, it would testify to a distancing of deflation risk.

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02/10/2017
Corporate Publications

Panorama: Coface Brazil corporate payment survey

Brazilian companies are currently faced with a challenging environment. GDP underwent an accumulated contraction of 7.4% during the two years of 2015-2016.

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01/25/2017
Economic Publications

Country risk assessment map - January 2017 - 4th quarter 2016

Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.

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01/25/2017
Economic Publications

Panorama: An economic upturn in the face of uncertainty

Starting with falling oil prices and financial markets in the winter, the Brexit referendum in the summer and the election of Donald Trump in the autumn, 2016 was punctuated by a series of upsets.

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01/13/2017
Corporate Publications

Panorama Poland payment survey - Payment delays pervade polish corporates

Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.

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12/20/2016
Economic Publications

Still Tough Times For South Africa?

South Africa’s growth performance has been in decline since the global financial crisis. Since peaking in 2011, the growth rate (hit by lower commodity prices and power supply problems) has continued to slow.

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12/19/2016
Economic Publications

Turkey: end of the tulip period?

Turkey’s economy experienced several shocks during 2015 and 2016. Heightened political uncertainties, regional tensions, the US rate hike process, the credit rating downgrade and domestic security issues, have all resulted in (...)

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12/14/2016
Economic Publications

Uberisation of the economy in France: a new weapon of mass creative destruction?

Why is the collaborative economy so captivating in France? First of all, because it is synonymous with youth and innovation. But also because sectors that (...)

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12/13/2016
Economic Publications

Company insolvencies in France: a further fall in 2017

The number of insolvencies in France continued to fall in the twelve months to end-October 2016 (-1.0%) (...)

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12/05/2016
Economic Publications

German Economy in 2017: Stable, but Not Staid

The signs for Germany’s further economic development are promising, with a high level of stability.

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