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.

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Oliver Allen (Senior US Economist)

PM Datanote: US ADP Employment, June

Implausible sector breakdown highlights ADP's uselessness.

Oliver Allen (Senior US Economist)US

PM Datanote: US ISM Manufacturing Survey, June

Supply-side disruptions giving way to weak demand.

Oliver Allen (Senior US Economist)US

Global Datanote: ISM Manufacturing Survey, US, June

In one line: Supply-side disruptions giving way to weak demand

Oliver Allen (Senior US Economist)Global

PM Datanote: US Advance Economic Indicators, May

GDP on course for a misleading jump in Q2.

Oliver Allen (Senior US Economist)US

PM Datanote: US New Home Sales, May

IMay slump brings sales back to reality.

Oliver Allen (Senior US Economist)US

PM Datanote: US Consumer Confidence / Chair Powell Monetary Policy Testimony

Inflation expectations dropping back, labor market still weakening.

Oliver Allen (Senior US Economist)US

PM Datanote: US Existing Home Sales, May

Sales likely to continue to stagnate.

Oliver Allen (Senior US Economist)US

PM Datanote: US Retail Sales, May

Underlying sales volumes holding up...for now.

Oliver Allen (Senior US Economist)US

PM Datanote: US Weekly Jobless Claims, June 7

More to the uptick in claims than residual seasonality.

Oliver Allen (Senior US Economist)US

17 June 2025 US Monitor Will new FOMC forecasts shift markets' pricing of further easing?

The median FOMC member this week probably will envisage easing by just 25bp this year...
...But the case for expecting more easing remains robust; signs of labor market weakness are growing.
The $10pb rise in oil prices will lift the CPI by 0.2%, likely dulling Mr. Trump’s appetite for more tariffs.

Oliver Allen (Senior US Economist)US

PM Datanote: US NFIB Small Business Optimism Survey, May

Sentiment up from the April lows, but small businesses remain under pressure.

Oliver Allen (Senior US Economist)US

PM Datanote: US ISM Services Survey, May

We doubt services inflation will reaccelerate sharply.

Oliver Allen (Senior US Economist)US

PM Datanote: US ADP Employment, May

More noise than signal.

Oliver Allen (Senior US Economist)US

5 June 2025 US Monitor The downward trend in construction spending has further to run

Construction spending has dropped significantly in recent months, a trend we expect to continue…
…Falling spending points to small but sustained declines in construction payrolls ahead.
Auto sales plunged by 9.4% in May, signalling the broader wave of pre-tariff purchases is now fading.

Oliver Allen (Senior US Economist)US