Pantheon Publications

PANTHEON EM ASIA DATA WRAP 22 May 2025

Indian services push the Q2 recovery forward in May

Global Datanote: Bank Indonesia Decision

• In one line: Back in business; at least 75bp in more cuts to come this year.

EM Asia Datanote: Bank Indonesia Decision

• In one line: Back in business; at least 75bp in more cuts to come this year.

EM Asia Datanote: Core Industries, India, April

• In one line: An abysmal start to Q2, but support from energy has been fading for a few months.

PANTHEON EM ASIA DATA WRAP 19 May 2025

Pre-“Liberation Day” anxieties were there for all to see in Thailand’s Q1

PANTHEON EM ASIA DATA WRAP 16 May 2025

Don’t panic about the continued ballooning of India’s trade deficit

PANTHEON EM ASIA DATA WRAP 14 May 2025

A larger-than-expected Ramadan bump in Indonesian sales that isn’t expected to last

Global Datanote: CPI, India, April

• In one line: More food disinflation to come in May; the 2025 consensus remains far too high.

EM Asia Datanote: CPI, India, April

• In one line: More food disinflation to come in May; the 2025 consensus remains far too high.

PANTHEON EM ASIA DATA WRAP 8 May 2025

Huge bounce in Philippine imports masks a broad-based Q1 improvement

PANTHEON EM ASIA DATA WRAP 7 May 2025

An overdue—and big—m/m correction in Philippine sales to close Q1

PANTHEON EM ASIA DATA WRAP 6 May 2025

Front-loading of Vietnamese exports to the US looks to have hit a ceiling
A quiet start to Q2 for retail sales in Vietnam, following a robust Q1
Lots of moving parts, but April saw no change to Vietnamese inflation
Below-target-range inflation in the Philippines looks set to persist until year-end
This bout of Thai deflation should be short and shallow

Global Datanote: CPI, Indonesia, April

• In one line: Electricity discounts are now well and truly a thing of the past.

PANTHEON EM ASIA DATA WRAP 2 May 2025

Indonesia’s electricity discounts are now well and truly a thing of the past

EM Asia Datanote: Retail Sales, Thailand, February

• In one line: Ignore the inflated headline, but households had a decent Q1.

Global Datanote: Bank of Thailand Decision

• In one line: Compelled by the US’ tariff war, and allowed for by a resumption of sub-1% inflation.

EM Asia Datanote: Bank of Thailand Decision

• In one line: Compelled by the US’ tariff war, and allowed for by a resumption of sub-1% inflation.

PANTHEON EM ASIA DATA WRAP 30 April 2025

Underneath the surface; a weak close to a robust Q1 for Philippine trade

Global Datanote: Industrial Production, India, March

• In one line: Capping off an unremarkable Q1.

EM Asia Datanote: Industrial Production, India, March

• In one line: Capping off an unremarkable Q1.