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.
- Retail sales growth in Indonesia slowed in March, but Q1 overall was the best quarter in two years.
- The historically tight job market is finally reviving wage growth, but cracks are surfacing in the former.
- Income-used data continue to show rising caution, with the share for savings now above average.
- A fuel-duty cut will keep German headline inflation in check in May, but we still see a rise to 3% soon…
- …Services inflation in Germany was pulled lower by a plunge in airfares in April; this will reverse in May.
- Italian industry ended Q1 on a strong note; ZEW investor sentiment rebounded in May.
- The gilt sell-off has further to run if Sir Keir Starmer is forced out of office in the next few weeks.
- We expect the initial payrolls estimate to show a 10K month-to-month drop in April.
- The unemployment rate should hold at 4.9% in March, and private pay growth should be unchanged.
- Malaysia retail sales growth moderated slightly in March but remained robust in Q1 overall.
- This was before the onset of the Middle East crisis though, which will hang over Q2 sales.
- This pressure will be compounded by the government’s gradual withdrawal of fuel subsidies.
- The hit to April sales from high gas prices and cooler weather likely was offset by strong tax refunds.
- We look for a 0.4% increase in headline sales, and a further 0.2% uptick in the retail control measure.
- Spending likely will slow sharply from May, however, as gas prices stay high and refunds taper off.
- Services inflation and labour-cost indexation are driving higher inflation in Colombia.
- Food and weather shocks add pressure, but excess demand increasingly dominates the outlook.
- BanRep likely will continue to hike, as persistent inflation will require more action ahead.
- China’s consumer inflation rose 0.2pp to 1.2% in April, on the back of fuel-price rises.
- The government will continue to soften the impact of high international energy prices on end-users.
- Industry is likely to bear the brunt of higher energy costs, amid still-sluggish domestic demand..
- Strong growth in IP investment, ex-Ireland, and capex in IT show the AI theme in the EZ macro data.
- The US is sprinting ahead on AI investment, while Europe is still walking, barely…
- …ECB data suggest US digital investment is up 80% since 2020, compared with no change in the EZ.
- We expect CPI inflation to slow to 2.9% in April from 3.3% in March.
- Utility prices fell 6.6% in April, and a range of government-set prices will rise less than a year earlier.
- Our CPI inflation call is 0.1pp lower than rate-setters expect, but we match their services inflation forecast.
In one line: China trade surplus hit by soft exports and hi-tech driven imports
In one line: BoK stays put, leaving canvas blank for incoming Shin amid war-induced growth and inflation risks.
In one line: Japan’s solid wage growth beats expectations, supporting an April’s BoJ hike.
In one line: Hong Kong PMI falls below 50 for first time since August 2025 amid war uncertainty in the Middle East
In one line: China’s RatingDog services PMI cools on payback effect, wither employment softening
Stagnant, with no positive catalyst immediately in sight.
In one line: Korea exports surge on higher chip prices and post-LNY boost; the BoK turns cautious
In one line: China CPI: Post LNY decline less pronounced as energy contribution rises
In one line: China ends 41-month of PPI deflation as war-driven energy spike lifts prices
In one line: China’s PPI jumps on energy shock as war-driven reflation accelerates
In one line: China’s CPI surprises to the upside as energy inflation accelerates in April
