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.
Andrés Abadía (Chief LatAm Economist)
- Mr. Milei has achieved the ‘miracle’ of macro stabilisation without wrecking Argentina’s economy.
- The sectoral performance highlights strength in agriculture, mining and retail; construction lags behind.
- Peru’s disinflation is continuing, still within the central bank’s target range amid external uncertainty.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Retail sector remains strong, while industrial sector struggles in January.
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s labour market remained resilient in January, at face value, but is showing some signs of cooling.
- The current account deficit increased in January, but the underlying picture remains benign.
- Foreign investment beat expectations, despite a difficult external and domestic backdrop.
Andrés Abadía (Chief LatAm Economist)Latin America
TRADE NOISE TESTS LATAM’S RESILIENCE…
- …AND TIGHT FINANCIAL CONDITIONS REMAIN A THREAT
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico’s external accounts are still healthy, but thanks to a solid H1 2024; risks emerged in Q4.
- Trade uncertainty likely will deter new investment, particularly in H1; remittances will face volatility.
- The labour market remains strong, at face value, but signs of weakening are becoming clearer.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Undershooting expectations, but the outlook remains difficult.
Andrés Abadía (Chief LatAm Economist)Latin America
- Inflation in Brazil rose less than expected in February, despite a spike in electricity tariffs.
- Weakening domestic demand will keep inflation pressures in check, but a range of issues remain.
- Mexico’s external accounts are under control, but both external and domestic issues cloud the outlook.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Underlying inflation pressures remain under control.
Andrés Abadía (Chief LatAm Economist)Latin America
- Core inflation is under control, allowing Banxico to eye a 50bp rate cut, but trade tensions loom.
- The benign February inflation report reinforces the dovish stance, yet US tariffs could cloud the outlook.
- In Argentina, Mr. Milei’s austerity is keeping the fiscal recovery on track, but trade tensions are rising.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: A bad end to the year, and downside risks have increased.
Andrés Abadía (Chief LatAm Economist)Global
- In one line: A bad end to the year, and downside risks have increased.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: Sales stabilised in December but headwinds persist.
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico’s GDP contracted in Q4, with weak industrial and agricultural sectors driving the decline.
- The IGAE point to a subpar Q1; rising external— trade—uncertainty weighs heavily on growth.
- Banxico faces a tough balancing act, as inflation risks and policy noise cloud its rate-cut decisions.
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexican retail sales stagnated in Q4, with high inflation and weak remittances dampening consumption.
- The labour market remains resilient, but weak job creation signals risks to economic momentum.
- Peru’s growth momentum slowed in December, but the outlook is positive, assuming no tariffs.
Andrés Abadía (Chief LatAm Economist)Latin America
- Mexico — Trade, security and tariffs
- Colombia — Leadership on shaky ground
- Chile — Presidential race gathering momentum
Andrés Abadía (Chief LatAm Economist)Latin America
- Brazil’s economic slowdown is deepening and will force the COPOM to end its tightening cycle soon.
- Colombia’s economy gathered speed in Q4, thanks to lower interest rates and despite political noise.
- Leading indicators point to a healthy H1, though some sectors will continue to lag behind the upturn.
Andrés Abadía (Chief LatAm Economist)Latin America
- The BCRP held rates steady; economic activity is gathering speed but disinflation is fully on track.
- The Board has left the door open to further cuts, but external risks and inflation remain key factors.
- Argentina’s inflation is slowing as Mr. Milei’s economic policies yield results, despite lingering issues.
Andrés Abadía (Chief LatAm Economist)Latin America
- In one line: On hold and maintaining a cautious stance.
Andrés Abadía (Chief LatAm Economist)Global
