2022-06-30-莱坊-European_Logistics_Dashboard_Summer_2022_6页_1mb

报告摘要

Eurozone GDP expanded 0.3% quarter-on-quarter in Q1 2022, with the IMF forecasting 2.8% annual growth, remaining above the long-term average. Global economic forecasts have moderated, but Europe's outlook is not isolated.
High inflation reached 8.1% in May 2022, driven by energy costs and global price pressures, with the ECB expected to raise interest rates by 25bps in July to combat this.
Labour markets remain tight, with unemployment at historic lows (6.8% in March 2022) and moderate wage growth forecasted (3% this year, 2.5% in 2023).
Labour demand is strong, increasing employment by 0.5% in Q1 2022, though some economies like France saw marginal contraction.

European industrial investment reached a record €16 billion in Q1 2022, a significant increase over previous quarters and years, with institutional investors accounting for 51% of the volume.
Cross-border investment totaled €9.8 billion, the highest on record, with US investors as the largest source (52%), and the UK as the primary destination receiving €7.9 billion.
Q1 investment volumes surged, with Germany and the Netherlands as the top destinations after the UK.
Prime industrial rents remained stable across European markets.

Europe is expected to lead cross-border capital investments in 2022, driven by institutional investors and private equity funds from the US and Canada, focusing on structural changes in logistics.
The yield gap narrowed or turned negative in some countries like Poland due to rising domestic rates, while online retail growth fuels demand for logistics space, with digital penetration increasing across Western Europe.
Industrial production declined in March 2022, but the manufacturing PMI stayed above 50, indicating expansion, while air cargo volumes were below 2021 levels but rebounding slowly.

Online retailer share prices experienced declines in 2022 due to economic reopening, inflation, and broader stock market bearishness.
Demand from online retail, now a significant share of total retail sales, is expected to sustain logistics sector growth through 2022.

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