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.
- In one line: Seasonal firmness, but disinflation remains intact.
In one line: A slight downside surprise, offsetting upside surprises in France and Spain.
- In one line: New series paints a more stable picture of recent years; ’statistical discrepancies’ no longer a bug-bear.
In one line: Growth will pick up further in 2026.
In one line: Stability in the labour market, for now; state CPIs tilt dovish.
In one line: Growth will pick up further in 2026.
In one line: Still well above 2%, but little impact on the ECB’s reaction function.
In one line: EZ inflation still looks dovish for February, but not enough to shift the ECB’s stance.
- In one line: Household momentum is rebuilding, but still nowhere near as fast as this absurd headline suggests.
In one line: Tokyo headline inflation under control
Ignore the y/y misses; lots to be reassured about in the Philippine trade details
THAI BALLOT AND HOT Q4 GDP NO SILVER BULLET
- …INDIA’S 2026/27 BUDGET KICKS THE CAN DOWN THE ROAD
- The personal saving rate can be heavily revised, but we think most of the recent fall is genuine.
- The low saving rate and soft growth in incomes will restrain growth in consumers’ spending.
- PPI data suggest retailers’ margins have normalized, pointing to slowing core goods inflation ahead.
- Brazil’s IPCA-15 upside surprise reflects education and transport seasonality, not renewed pressures.
- Core trends have stabilised near target, reinforcing scope for gradual COPOM easing from this month.
- Fiscal uncertainty clouds the rate-cutting pace despite soft activity, steady prices and BRL rebound.
- GDP growth in India cooled modestly to 7.8% in Q4, from 8.4% in Q3, based on the revamped series…
- …‘Statistical discrepancies’ are now much less of a headache; we’ve raised our 2026 forecast to 6.7%.
- The Supreme Court’s tariff ruling is a clear win for EM Asia; risks to export growth, in all, are receding.
- Governor Ueda’s musings on a March or April policy rate hike are likely intended to bolster JPY…
- …Less currency pressure and low headline inflation will likely allow the BoJ to delay hiking until Q4.
- Tokyo headline inflation edged up only 0.1pp to a still restrained 1.6% in February.
- Inflation in the EZ stayed well below 2% in February, but this is not enough to shift the ECB towards a cut.
- The Swiss economy resumed growth in Q4, and is poised for even stronger GDP in 2026.
- Switzerland will continue to negotiate a US trade deal, which should revive its industry and exports.
- Easing inflation expectations and a soft labour-market report seal a March rate cut...
- ...But the activity data remain solid, and business surveys point to sticky price pressures.
- So, we continue to expect just one more cut to Bank Rate this year.
In one line: Sentiment edges down, price pressures remain elevated.
In one line: A strong rise in M1 growth; did lending growth really slow?
