Pantheon Macroeconomics

Best viewed on a device with a bigger screen...

Eurozone Publications

Below is a list of our Eurozone Publications for the last 6 months. If you are looking for reports older than 6 months please email, or contact your account rep

Please use the filters on the right to search for a specific date or topic.

Melanie Debono (Senior Eurozone Economist)

17 July 2024 Eurozone Monitor Bank credit tightening eased again in Q2; the trend will continue

  • Household demand for credit rose, and the fall in firms’ demand decelerated in Q2…
  • ...Banks tightened standards at a slower pace than in past quarters, supporting lending growth…
  • ...The subsequent pick-up in GDP growth will be gradual, however; not something for the ECB to fear.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Industrial Production, EZ, May 2024

In one line: EZ industry likely came out of recession in Q2, by the skin of its teeth. 

Melanie Debono (Senior Eurozone Economist)Eurozone

12 July 2024 Eurozone Monitor Revising up our Q2 GDP growth call for Italy, marginally

  • Monthly hard data for Italy have been better than expected; our new nowcast points to faster growth… 
  • ...but business surveys suggest GDP growth is unlikely to budge from Q1’s 0.3%. 
  • Advance numbers suggest that EZ negotiated wage growth slowed in Q2, despite firmer Indeed data.

Melanie Debono (Senior Eurozone Economist)Eurozone

10 July 2024 Eurozone Monitor House prices in the Eurozone will fare better than previously thought

  • The fall in Eurozone house prices eased for the second straight quarter in Q1…
  • ...and we see signs that demand is picking up sooner than we thought amid falling interest rates. 
  • We now think house prices will be broadly flat in 2024 after they slid by 1.2% in 2023.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Sentix, Eurozone, July 2024

In one line: Still consistent with a rebound in the PMI, despite falling.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Retail Sales, EZ, May 2024

In one line: Goods spending is not benefitting from the recovery in real incomes, yet.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Final PMIs, Eurozone, June

In one line:  Upward revision doesn’t change picture of cooling output growth in June.

Melanie Debono (Senior Eurozone Economist)Eurozone

4 July 2024 Eurozone Monitor No fireworks from Sintra; ECB comments in line with our rate call

  • ECB President Lagarde struck a somewhat hawkish tone in her Sintra speeches… 
  • ...But the main message from ECB speakers is that more rate cuts are on the way, data permitting. 
  • Overall, the Sintra conference left no mark on market-based and consensus rate expectations.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: ISTAT Confidence, Italy, June

In one line: A third straight fall led by a drop in manufacturing.

Melanie Debono (Senior Eurozone Economist)Eurozone

26 June 2024 Eurozone Monitor Spain is outperforming, on and off the football pitch

  • Revisions show that Spanish GDP rose by 0.8% on the quarter in Q1, more than previously thought.
  • More of the same is likely in coming quarters; survey and hard data are positive, especially in services.
  • Spain’s GDP will likely leap by 2.8% this year, in contrast to 0.8% in the Eurozone as a whole.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Advance PMIs, Eurozone, June 2024

In one line: Slower but still decent growth and price pressures are easing.

Melanie Debono (Senior Eurozone Economist)Eurozone

21 June 2024 Eurozone Monitor Two SNB cuts down, two more likely this year

  • The SNB cut rates for the second straight meeting, and lowered its inflation forecasts...
  • ...We look for another 50bp-worth of rate cuts this year, more than financial markets
  • expect.
    The Bank will have to match ECB cuts to prevent a significant appreciation of the CHF and deflation.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Construction, Eurozone, April

In one line: Q1 wasn’t as good as previously thought, and output will fall back in Q2. 

Melanie Debono (Senior Eurozone Economist)Eurozone

  Publication Filters

Change View: List   Small Grid  

Filter by Keyword

Filter by Region

Filter by Publication Type

Filter by Date
(6 months only; older publications available on request)

  Quick Tag Filters
Consistently Right
Access Key Enabled Navigation
Keywords for: Eurozone Documents

independent macro research, Eurozone Document Vault, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence,