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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Andrés Abadía (Chief LatAm Economist)
- In one line: Growth slows as capex falls, but services hold up.
Andrés Abadía (Chief LatAm Economist)Global
- In one line: Growth slows as capex falls, but services hold up.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s Q2 GDP growth slowed sharply, as temporary supports fade and monetary tightening bites.
- Household consumption and services showed resilience, but capex saw renewed weakness.
- Peru’s inflation is firmly anchored, giving BCRP flexibility to balance demand and external uncertainty.
Andrés Abadía (Chief LatAm Economist)Latin America
- Inflation in Brazil eased to 5.0% in August, helped by falling food prices and stronger BRL support.
- GDP growth slowed sharply in Q2, as earlier momentum in agriculture, industry and services faded.
- US tariffs and widening external deficits remain risks, keeping the COPOM cautious and Selic rate at 15%.
Andrés Abadía (Chief LatAm Economist)Latin America
- Retail sales declined sharply in Brazil, with credit-sensitive segments under the most pressure.
- Services held firm up until June, but PMI data now point to a weakening trend.
- Consumer sentiment is fragile, and high interest rates continue to weigh on household spending.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Sales stumble again as financial headwinds intensify.
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico — Rally slows near resistance
- Argentina — Fragile rebound ahead of elections
- Chile — At record high, set for steady year-end gains
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Inflation eases as demand cools.
Andrés Abadía (Chief LatAm Economist)Global
- Brazil's July IPCA undershot expectations, with the inflation rate easing to 5.2% from 5.4% in June…
- …Falling food and industrial goods prices, plus a stronger BRL, point to continued gradual disinflation.
- We expect the BCRP to hold at 4.50% this week, though a 25bp cut later this year remains possible.
Andrés Abadía (Chief LatAm Economist)Latin America
- Chile's July CPI jumped, on electricity and services, pushing up inflation for the first time since March.
- BCCh launched an USD18.5B reserve accumulation plan to cut its reliance on a shrinking IMF credit line.
- Colombia’s inflation rose, as structural pressures persist, delaying the prospect of further rate cuts.
Andrés Abadía (Chief LatAm Economist)Latin America
- Banxico opted for a smaller rate cut, balancing better headline inflation against sticky core pressures.
- Its updated forecasts show headline inflation easing but core elevated, delaying convergence to target.
- The more gradual 25bp pace is likely to continue, with data-dependency guiding further cuts in 2025.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Disinflation resumes, but risks linger.
Andrés Abadía (Chief LatAm Economist)Global
- In one line: Disinflation resumes, but risks linger.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazilian Real — Under strain as trade risk rises
- Mexican Peso — Holding firm amid headwinds
- Colombian Peso — Rally ended by an array of risks
Andrés Abadía (Chief LatAm Economist)Latin America
- Chile's non-mining sectors remain robust, helped by strong consumption and improving investment.
- The slump in mining output is weighing on headline growth, but external demand and copper are buffers.
- Fiscal pressures are rising as revenues lag behind target, raising the risk of budget-tightening ahead.
Andrés Abadía (Chief LatAm Economist)Latin America
- Sticky core inflation and rising wage risk delay further cuts in Colombia, despite headline disinflation.
- Governor Villar flagged the worsening public finances; FM Bonilla offered little clarity on budget plans.
- We expect a shallow easing cycle, with cuts resuming only if inflation risks ease meaningfully.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Industrial output disappoints again as tariffs loom.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Mining volatility drags on Q2, but growth outlook holds firm.
Andrés Abadía (Chief LatAm Economist)Global
- In one line: Mining volatility drags on Q2, but growth outlook holds firm.
Andrés Abadía (Chief LatAm Economist)Latin America
