Pantheon Publications
Below is a list of our Publications for the last 6 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.
In one line: French GDP is headed for a decline in Q4.
Claus Vistesen (Chief Eurozone Economist)Global
In one line: French GDP is headed for a decline in Q4.
Claus Vistesen (Chief Eurozone Economist)Eurozone
- In one line: Probably already regretting the October hike.
Miguel Chanco (Chief EM Asia Economist)Global
- In one line: Probably already regretting the October hike.
Miguel Chanco (Chief EM Asia Economist)Emerging Asia
Inflation in Singapore spikes on base effects and record COEs
Moorthy Krshnan (Senior Asia Economist)Emerging Asia
- Japan’s core inflation barely moved in October, despite a rise in headline inflation...
- ...Driven by the partial roll-back of energy subsidies, soaring hotel costs and fresh food inflation.
- The fall in the November flash manufacturing PMI confirms Japan’s sluggish recovery.
Duncan WrigleyChina+
- Business CapEx looks to have stalled at the start of Q4, hit by rates and tight credit conditions.
- Equipment spending is on course to fall for a second straight quarter, with only modest gains elsewhere.
- Jobless claims surprised to the downside last week, but we expect a rebound in this week’s report.
Ian Shepherdson (Chief Economist, Chairman and Founder)US
- Mexico’s economy did well in Q3 due chiefly to stronger services, but the good news won’t last.
- Growth momentum is easing; higher borrowing costs are triggering a slowdown in consumption.
- Interest rate cuts are coming, as the minutes of the last meeting suggest, but in Q4?
Andrés Abadía (Chief LatAm Economist)Latin America
- Malaysia’s fiscal budget for 2024 targets a steep cut in the deficit to 4.3% of GDP, from 5.0% this year...
- …But the deficit is likely to be bigger, with the bulk of the adjustment falling to lower subsidy spending.
- The Fiscal Responsibility Bill, if credible, forces the government into stricter austerity measures.
Moorthy Krshnan (Senior Asia Economist)Emerging Asia
- German GDP fell in Q3, and we look for a further decline in Q4, pushing the economy into recession.
- Real disposable income growth remains weak; we still think it will improve next year as inflation eases.
- The fiscal impasse will be resolved, eventually, but a near-term hit to growth is now likely.
Claus Vistesen (Chief Eurozone Economist)Eurozone
- Household disposable income will receive a 0.6pp boost from tax and benefit changes in the 2024/25 fiscal year.
- The drag on disposable income growth from mortgage refinancing looks set to halve in 2024.
- Many households intend to save more, but saving already is higher than normal; real spending will pick up next year.
Samuel TombsUK
- Mexican retail sales volumes fell in September for the third consecutive month, and will continue to decline.
- Leading indicators point to a broad-based slowdown in Q4 and Q1, as tighter financial conditions bite.
- This, coupled with rapidly easing core inflation pressures, will allow Banxico to cut soon.
Andrés Abadía (Chief LatAm Economist)Latin America
- BI stood pat yesterday after October’s surprise hike; we maintain that easing is just around the corner.
- We no longer expect a fourth 50bp rate cut from the SBV, with M2 growth now clearly turning a corner.
- Jump in Singaporean inflation in October should not distract from a likely sharp drop in November.
Miguel Chanco (Chief EM Asia Economist)Emerging Asia
- The EZ PMI for November indicate that the slowdown in activity eased midway through Q4…
- ...But we still think the Eurozone economy is now in a technical recession.
- ECB accounts shows that policymakers are surprised over how quickly financial conditions are tightening.
Claus Vistesen (Chief Eurozone Economist)Eurozone
- The composite PMI edged above 50 in November, for the first time since July; consumer demand is reviving...
- ...Firms, however, are still reducing employment slightly, and output prices are rising more slowly than a year ago.
- By May, the labour market will have loosened and CPI inflation fallen enough for the MPC to start to cut rates.
Samuel TombsUK
- - CHINA USES TARGETED STIMULUS TO PROP UP GROWTH
- - BOJ SIGNALS READINESS TO EXIT EASY POLICY
- - BOK WILL BE LATE TO THE PARTY
Kelvin Lam (Senior China+ Economist)China+
In one line: We still expect consumption to stagnate in Q4.
Melanie Debono (Senior Eurozone Economist)Eurozone
Business equipment investment on course for another decline in Q4; too early to conclude that claims are flattening.
US
- In one line: No major pre-election giveaways; the course is clear for the MPC to cut Bank Rate next year.
Samuel TombsUK
- In one line: The Q3 recovery in manufacturing output looks set to reverse.
UK
