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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- In one line:Public finances deteriorate in May, tax-hike speculation to mount over the summer.
- In one line: Consumers’ confidence inches up, but it will be tested over the summer.
Sales likely to continue to stagnate.
- In one line: Solid start to Q2, but consumption faces headwinds.
- In one line: Solid start to Q2, but consumption faces headwinds.
- In one line: Rates and guidance unchanged in June, but a dovish tilt to the minutes.
- In one line:Retail sales tank in May but will rebound.
- In one line: Activity rises and price pressures fall, but geopolitical stress a rising worry.
In one line: Holding steady.
In one line: Holding steady
In one line: Are we too downbeat on Germany?
In one line: Are we too downbeat on Germany?
In one line: Stuck in the mud, but also underestimating growth.
In one line: Stuck in the mud, but also underestimating growth.
- S&P reports brisk employment growth in June, but itsindex has been a very poor guide to payrolls since 2023.
- The output price index signals an implausibly large pick- up in core goods CPI inflation ahead.
- The unwinding of a one-time uplift to Social Security payments probably dragged on income growth in May.
- A rebound in manufacturing and services lifted Mexico’s output in April, but momentum is weak.
- Consumption faces pressure from high rates, labour-market stress, and fading support from remittances.
- Colombia’s proposed ballot sidesteps legal processes, raising institutional fears.
- India’s flash PMIs for June were robust, but note they remain susceptible to huge downgrades…
- …And they’re still down year-over-year in Q2, indicating big downside risk to GDP forecasts.
- Other details show waning optimism over the long run, and downward pressure building on core CPI.
- Korea’s 20-day export growth rebounded, likely supported by stockpiling as the US’s deadline nears.
- Shipments to the US, EU and Taiwan were the main drivers, while chip exports were strong in June.
- The trade-talk logjam continues; we expect the grace period to be extended, allowing more negotiating time.
- The EZ PMI held steady in June, and averaged broadly the same in Q2 as in Q1…
- ...But EZ GDP will not repeat its 0.6% growth in Q1; we look for GDP to stagnate this quarter.
- Demand is recovering but, once tariff front-running ends, will likely correct; price pressures are easing.
- The PMI’s headline activity index rose in June but still signals unchanged quarter-to-quarter GDP in Q2…
- …But we think the PMI continues to underestimate activity and retain our call for GDP growth of 0.2%.
- The services output balance fell sharply in June, but that drop looks erratic; the MPC will wait for clarity.
