Pantheon Macroeconomics

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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.

Andrés Abadía (Chief LatAm Economist)

PM Datanote: Bi-weekly CPI, Mexico, July, 2025

  • In one line: Core inflation softens, allowing further monetary policy normalisation.

Andrés Abadía (Chief LatAm Economist)Latin America

25 July 2025 LatAm Monitor Mexico's inflation slows again, but services still an issue, for now

  • Disinflation has resumed in Mexico, driven by softer food and energy prices; services are still a challenge.
  • Favourable base effects, a stronger MXN and subdued demand continue to support disinflation.
  • July data support a 25bp Banxico rate cut, as structural pressure limits the magnitude of easing.

Andrés Abadía (Chief LatAm Economist)Latin America

23 July 2025 LatAm Monitor Mexico's growth holding up in Q2, but headwinds mounting into H2

  • Mexico’s IGAE data show resilience, yet fading services and capex signal weak momentum into H2.
  • Labour-market softness is deepening, with job creation stalling and real wage growth slowing further.
  • Banxico is facing pressure to ease, but sticky core services inflation will constrain the pace of cuts.

Andrés Abadía (Chief LatAm Economist)Latin America

22 July 2025 LatAm Monitor Colombia's recovery continues, but fiscal storm clouds are gathering

  • Consumer-driven momentum and services strength supported Colombia’s Q2 growth, but industry lags.
  • The fiscal deficit is on track to breach 8% of GDP, with no credible correction in sight.
  • Disinflation is set to resume in Mexico and Brazil, but structural pressures and trade risks persist.

Andrés Abadía (Chief LatAm Economist)Latin America

21 July 2025 LatAm Monitor Latin America's currency rebound aids rate cuts, but tariff fears grow

  • Most regional currencies have rallied on still-attractive carry and resilient terms-of-trade.
  • Trade tensions with the US are reigniting inflation worries and complicating monetary policy decisions.
  • Central banks face narrowing scope for cuts, as political risk and global uncertainty intensify.

Andrés Abadía (Chief LatAm Economist)Latin America

18 July 2025 LatAm Monitor Colombia holding up as consumers spend and manufacturing rebounds

  • Retail and industrial data in Colombia point to a broad-based recovery, despite political volatility.
  • A stronger COP, easing inflation and resilient job market are fuelling durable goods consumption.
  • Mr. Petro’s proposals, tax reform and external risks still cloud the investment outlook heading into 2026.

Andrés Abadía (Chief LatAm Economist)Latin America

17 July 2025 LatAm Political Update Tariffs meet domestic political crosswinds

  • Brazil —US tariffs rattle the outlook
  • Mexico —  Tariffs test Ms. Sheinbaum’s resolve
  • Chile — Bracing for copper tariffs

Andrés Abadía (Chief LatAm Economist)Latin America

16 July 2025 LatAm Monitor Argentina's inflation falls and policy anchors hold firm; BCRP holds rates

  • Disinflation is accelerating in Argentina, with headline and core prices reaching multi-year lows in June.
  • Tight fiscal and monetary policy continue to anchor expectations, despite the ARS and political noise.
  • BCRP held at 4.5%, signalling caution amid global uncertainty and anchored inflation expectations.

Andrés Abadía (Chief LatAm Economist)Latin America

15 July 2025 LatAm Monitor Brazil's recovery stalls as financial and external headwinds mount

  • Brazil’s weakness in industry and services highlights the growing drag from tighter financial conditions.
  • Mr. Trump’s tariff move threatens exports, investment and already-fragile economic momentum.
  • Mexico has also been hit by the tariff noise, but markets are still betting on a negotiated outcome.

Andrés Abadía (Chief LatAm Economist)Latin America

PM Datanote: Industrial Production, Mexico, May, 2025

  • In one line: Industrial sector stabilises, but outlook remains weak. 

Andrés Abadía (Chief LatAm Economist)Latin America

14 July 2025 LatAm Monitor Banxico set to ease cautiously as disinflation advances but risks linger

  • Disinflation resumes in Mexico, but core pressures linger, led by services.
  • External weakness weighs on manufacturing, but interest rate cuts offer relief.
  • Construction rebounds, but trade tensions and weak US demand are a drag on industrial recovery.

Andrés Abadía (Chief LatAm Economist)Latin America

Global Datanote: CPI, Mexico, June, 2025

  • In one line: Core pressures lingering, but disinflation resumes.

Andrés Abadía (Chief LatAm Economist)Global

PM Datanote: CPI, Mexico, June, 2025

  • In one line: Core pressures lingering, but disinflation resumes.

Andrés Abadía (Chief LatAm Economist)Latin America

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