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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Claus Vistesen (Chief Eurozone Economist)
- Industrial production in Germany plunged in June, or did it? We are not so sure.
- Green shoots in leading indicators for German capex, but an inventory overhang still looms in H2.
- German exports remain stuck in the mud, and US tariffs add further downside risk in H2.
In one line: No boost from Airbus orders?
- Italian industrial output edged up in June, while German turnover figures point to a rise there too.
- EZ industry fared well in Q2, a further correction in Irish production permitting.
- EZ retail sales recorded a decent June and suggest goods spending supported GDP in Q2.
In one line: Soaring as transport and refineries kick into gear
- The EZ PMI was revised down, largely due to a downward revision to France’s already-weak index.
- Spain’s and Italy’s composite PMIs are much higher than those of France and Germany.
- French industrial production soared in June, but mainly on the back of a one-off in transport.
In one line: A blow for ECB doves and September rate cut hopes.
In one line: A blow for ECB doves and September rate cut hopes.
- The July HICP has raised the bar significantly for a September ECB rate cut…
- …But we won’t give up on our call until we see inflation data for August.
- A fall in core inflation, volatile markets, and US economic fragility could still pull a cut over the line.
In one line: EZ inflation in July was not the dovish slam dunk we were expecting.
In one line: No change; we still see the EZ HICP at 1.8% y/y.
