Pantheon Publications

Below is a list of our Publications for the last 5 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep.

Please use the filters on the right to search for a specific date or topic.

UK Datanote: UK Final Services and Composite PMI, June 2025

In one line: Happy days as growth improves and inflation slows; the MPC could welcome the news with another cut in August.

Rob Wood (Chief UK Economist)UK

UK Datanote: Bank of England Decision Maker Panel, June 2025

In one line: Rebounding employment expectations suggest inflation pressure will remain stubborn.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Final Manufacturing PMI, June 2025

In one line: June’s downward revisions to the PMI’s sub-indices were likely driven by oil prices, sentiment will continue to improve.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Money & Credit, May 2025

In one line: Falling saving flows and rising corporate borrowing point to solid economic growth.

Rob Wood (Chief UK Economist)UK

UK Datanote: U.K. Nationwide House Prices, June 2025

In one line: House prices fall in June but returning buyer demand will push up prices soon.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK National Accounts, Q1 2025

In one line: Better balanced growth after revisions bodes well.

Rob Wood (Chief UK Economist)UK

July 2025 - U.K. Housing Watch

HOUSE PRICES COLLAPSE IN APRIL...

...BUT THE RECOVERY IS ALREADY UNDERWAY

Rob Wood (Chief UK Economist)UK

PM Datanote: US ISM Services Survey, June

A big jump in services inflation still looks unlikely.

Oliver Allen (Senior US Economist)US

Global Datanote: Inflation, Switzerland, June 2025

In one line: Back above zero, but unlikely to stay there for long.

Melanie Debono (Senior Eurozone Economist)Global

EZ Datanote: Inflation, Switzerland, June 2025

In one line: Back above zero, but unlikely to stay there for long.

Melanie Debono (Senior Eurozone Economist)Eurozone

PM Datanote: US ADP Employment, June

Implausible sector breakdown highlights ADP's uselessness.

Oliver Allen (Senior US Economist)US

PM Datanote: Industrial Production, Brazil, May, 2025

In one line: Manufacturing slumps as mining props up output.

Andrés Abadía (Chief LatAm Economist)Latin America

4 July 2025 China+ Monitor Hong Kong dollar peg here to stay, despite talk of its demise

The HKMA intervened again on Wednesday to defend the currency peg, which has been in place since 1983.
The LERS is a double-edged sword: Hong Kong loses monetary policy freedom but gains stability.
Any talk of re-pegging the HKD is premature; China and HKSAR are not yet an Optimal Currency Area.

Kelvin Lam (Senior China+ Economist)China+

4 July 2025 Eurozone Monitor Swiss inflation to fall to zero in July and hold there till autumn

Headline inflation in Switzerland rose above zero in June, by 0.2pp to 0.1%.
It will fall back again in July, to zero, where we expect it to hold steady until Q4.
Our forecasts remain well below the SNB’s; another rate cut in September, to -0.25%, is still likely.

Melanie Debono (Senior Eurozone Economist)Eurozone

4 July 2025 UK Monitor Between a rock and a hard place sits fudging the fiscal rules

U-turns scorch the Chancellor’s fiscal headroom, and appetite for corrective action seems limited.
We expect ‘stealth tax’ hikes, some of which boost inflation, and a fudge of the fiscal rules in the Budget.
The PMI and DMP show better growth and slower inflation, but we expect only one more rate cut in 2025.

Rob Wood (Chief UK Economist)UK