Pantheon Publications

EZ Datanote: Industrial Production, Spain, December 2025

In one line: Year-end slump in Spanish industrial output.

EZ Datanote: Industrial Production & Trade Balance, Germany, December 2025

In one line: Production stung by falling auto output, but still managed a decent Q4. 

Global Datanote: Reserve Bank of India Decision, February 2026

• In one line: The likely long pause is here. 

PANTHEON EM ASIA DATA WRAP 6 February 2026

The RBI’s likely long pause is here
Don’t buy Vietnam’s Tet-distorted January trade headlines
A more than decent start to 2026 for retail sales in Vietnam
Huge healthcare hike in January last year drops out of Vietnamese inflation
Nascent signs of a recovery in Philippine sales

UK Datanote: UK MPC Decision and Minutes, February 2026

• In one line: Dovish vote and minutes make March close call and signal a desire to cut twice this year at least. 

UK Datanote: Construction PMI, January 2026

• In one line: Construction activity to grind only modestly higher as tailwinds dissipate.

UK Datanote: UK Car Registrations, January 2026

• In one line: Autos registrations will continue to rise slowly over the coming year.

UK Datanote: UK Final Services and Composite PMI, January 2026

• In one line: Rebounding growth as uncertainty falls and stubborn price pressures point to just one Bank Rate cut this year.

UK Datanote: UK Final Manufacturing PMI, January 2026

• In one line: Manufacturing activity can rise at a steady rate in 2026.

UK Datanote: UK Money & Credit, December 2025

• In one line: More downbeat money and credit data, but good enough to signal economic growth close to potential.

EZ Datanote: Retail Sales, Eurozone, December 2025

In one line: Down in December, but Q4 was still better than Q3. 

EM Asia Datanote: CPI, Taiwan, January 2026

• In one line: Big disinflation surprise, due to Lunar New Year noise.

EZ Datanote: Construction PMIs, Eurozone, January 2026

In one line: Reverses year-end gains, price pressures intensify. 

EZ Datanote: Industrial Production, France, December 2025

In one line: Stung by a plunge in aerospace output. 

EZ Datanote: Factory Orders, Germany, December 2025

In one line: Momentum is building, but running well ahead of the survey data.

PANTHEON EM ASIA DATA WRAP 5 February 2026

Indonesia’s dream of 6% for 2026 could become reality
Thai deflation now looks set to stick around until mid-year
Philippine inflation is back in the BSP’s range; still expecting a February cut

PM Datanote: US ISM Services Survey, January 2026

Too unreliable to be of much use.

6 February 2026 US Monitor JOLTS implies the Fed is wrong to judge labor market has "stabilized"

• Openings fell in December to their lowest level since September 2020; AI is weighing more on hiring.
• Small business openings are falling, casting doubt over the upbeat payrolls signal from the NFIB survey.
• The quits rate still points to a further decline in wage growth this year; the Fed has room to ease further.

6 February 2026 LatAm Monitor Chile ends 2025 strongly as growth, confidence and policy align

• Chile’s IMACEC rebounded, led by commerce, services and resilient domestic demand momentum.
• Falling inflation, pension-reform liquidity and easier credit conditions set a positive tone for H1.
• Banxico pauses easing as sticky core inflation and fiscal pressures delay convergence to target.

6 February 2026 Emerging Asia Monitor Indonesia's 'hot' Q4 GDP print welcome in more ways than one

• Indonesian Q4 GDP growth beat expectations, at 5.4%, and is likely closer to 7.0% in reality…
• …Consumption is the real hero, not investment; we’ve upgraded our 2026 growth forecast to 5.1%.
• The leap in inflation in January was quite deceptive; calm food prices force us to cut our 2026 call.