Pantheon Publications

PM Datanote: CPI Annual Seasonal Revisions

All that excitement for nothing.

Ian Shepherdson (Chief Economist, Chairman and Founder)US

Global Datanote: Banxico Announcement, Mexico, February, 2024

• In one line: Easing is finally coming.

Andrés Abadía (Chief LatAm Economist)Global

PM Datanote: Banxico Announcement, Mexico, February, 2024

• In one line: Easing is finally coming.

Andrés Abadía (Chief LatAm Economist)Latin America

Global Datanote: BCRP Rate Decision, Peru, February, 2024

• In one line: More modest cuts to come.

Andrés Abadía (Chief LatAm Economist)Global

PM Datanote: BCRP Rate Decision, Peru, February, 2024

• In one line: More modest cuts to come.

Andrés Abadía (Chief LatAm Economist)Latin America

China+ Datanote: Money & Credit, China, January

M1 and credit growth beat expectations, thanks to stimulus

Duncan WrigleyChina+

EZ Datanote: Industrial Production, Italy, December 2023

In one line: Suggests increase in GDP in Q4 will be revised down, but outlook is turning.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Detailed Inflation, Germany, January 2024

In one line: Services inflation pushed higher by healthcare, education and hospitality.

Claus Vistesen (Chief Eurozone Economist)Eurozone

PM Datanote: Inflation, Chile, January, 2024

• In one line: Incompatible with prior data, but the downtrend is on track.

Andrés Abadía (Chief LatAm Economist)Latin America

12 February 2024 China+ Monitor Chinese pricing trends signal weak activity; ignore the holiday noise

• The downward trend in China’s producer prices showed little sign of bottoming out in January.
• Consumer prices rose for a second straight month in January, but holiday-period data are noisy.
• A policy recalibration, rather than a major shift, to tackle weak demand is likely at the Two Sessions.

Kelvin Lam (Senior China+ Economist)China+

PM Datanote: Weekly Jobless Claims, February 3

Claims are still very low, but trouble ahead?

Ian Shepherdson (Chief Economist, Chairman and Founder)US

UK Datanote: U.K. RICS Residential Market Survey, January 2024

• In one line: Further evidence to support our view of a material recovery in house prices this year. 

UK

China+ Datanote: PPI, China, January

Manufactured goods producer price decline stems partly from industrial spare capacity

Duncan WrigleyChina+

CHINA+ DATA WRAP 8 February 2024: China's inflation data point to soft demand

China's inflation data point to still-soft domestic demand, after filtering out the holiday noise

Duncan WrigleyChina+

PANTHEON EM ASIA DATA WRAP 8 February 2024

Cracks are emerging in the RBI’s unity
Discretionary spending over the holidays boosts Malaysian sales growth in December

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

Global Datanote: Inflation, Chile, January, 2024

• In one line: Incompatible with prior data, but the downtrend is on track.

Andrés Abadía (Chief LatAm Economist)Global

PM Datanote: CPI, Mexico, January, 2024

• In one line: Core pressures continue to ease.

Andrés Abadía (Chief LatAm Economist)Latin America

Global Datanote: CPI, Mexico, January, 2024

• In one line: Core pressures continue to ease.

Andrés Abadía (Chief LatAm Economist)Global

9 February 2024 US Monitor CPI revisions today are a wild card

• The annual revisions to the CPI today are a black box, but they are unlikely to change the big picture.
• Core disinflation will persist, regardless of changes made to the data for last year.
• The Atlanta Fed wage tracker strongly suggests that the spike in January AHE is noise, not signal. 

Ian Shepherdson (Chief Economist, Chairman and Founder)US