IRN JANUARY-FEBRUARY 2015
15
ERA/
IRN
RENTALTRACKER
Europe: Regional trends
TABLE 2
BALANCEOFOPINIONONBUSINESS
CONDITIONS (ENDQ4, 2014)
(previousquarter inbrackets)
Nordic
+51%
(+6%)
UK
+50%
(+55%)
Italy
+29%
(-72%)
Spain
+20%
(-33%)
All Europe
+8.4%
(+1.7%)
Benelux
0%
(+33%)
Russia
0%
(NA)
Germany
-13%
(+10%)
Multinationals
-34%
(0%)
France
-62%
(-40%)
NOTE: Balanceof opinion=proportion seeing
improvement – proportion seeingworsening
conditions.
0
0
20
20
40
40
60
60
80
80
100
100
PERCENTAGEREPORTINGQ42014
GROWTHVSQ42013
(previousquarter inbrackets)
UK
77%
(73%)
Germany
57%
(50%)
Benelux
50%
(63%)
All Europe
40%
(39%)
Spain
40%
(17%)
Nordic
32%
(33%)
Italy
29%
(14%)
France
23%
(21%)
Russia
17%
(NA)
Multinationals
8%
(45%
PERCENTAGEWHICHWILLEMPLOY
MORE INQ1 2015
(previousquarter inbrackets)
Russia
80%
(NA)
UK
65%
(78%)
All Europe
31%
(24%)
Benelux
25%
(50%)
Spain
24%
(0%)
France
23%
(11%)
Nordic
20%
(25%)
Multinationals
18%
(14%)
Germany
14%
(29%)
Italy
14%
(0%)
PERCENTAGEWITH INCREASING
UTILISATION INQ42014
(previousquarter inbrackets)
Germany
83%
(29%)
UK
81%
(20%)
Nordic
51%
(31%)
Spain
50%
(33%)
All Europe
41%
(30%)
Benelux
38%
(63%)
France
18%
(17%)
Multinationals
18%
(14%)
Russia
16%
(NA)
Italy
14%
(14%)
PERCENTAGEEXPECTTO INCREASE
INVESTMENTBY >10% IN2015
(previousquarter opinion inbrackets)
Nordic
80%
(38%)
UK
48%
(30%)
All Europe
31%
(30%)
Germany
29%
(33%)
Spain
25%
(40%)
Russia
20%
(NA)
Multinational
20%
(22%)
France
18%
(28%)
Benelux
14%
(13%)
Italy
14%
(14%)
0
0
20
20
40
40
60
60
80
80
100
100
So a broadly positive picture from Russia –
contrasting pretty sharply with the bad economic
news coming out of the country – but with no
recent point for comparison, it is hard to draw
any conclusions. We hope to add to our analysis of
Russia in the next survey.
Wait and see
Perhaps the renewed senseof economicuncertainty
that permeated Europe during the final three
months of the year has prompted rental companies
ingeneral toopt fora“waitandsee”approachaswe
enter the New Year. It is telling that, across Europe
at theendof last year, less thanhalf of respondents
were expecting better business conditions in a
year’s time.
Economic conditions in the fourth quarter were
comparable to those that the market saw at
the end of 2013, when it became obvious that a
sustained, growth-fuelled recovery in Europe was
notmaterialising.
Undoubtedly a mixed picture has emerged from
the fourth quarter ERA/
IRN
RentalTracker survey,
but the results are broadly positive in that they
represent improving sentiment in a volatile climate,
albeit skewed to some extent in favour of the UK. It
will certainlybe interesting to see if thismomentum
continues into the second quarter, and we hope for
a strong response to the next survey.
IRN
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