EZ Datanote: Retail Sales, EZ, February 2025

In one line: Rebounding as expected; will global trade war hurt consumers? 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Sentix, Eurozone, April 2025

In one line:  Plunging, reflecting market rout. 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Construction PMIs, Eurozone, March 2025

In one line:  Up despite being held back by German weakness. 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Industrial Production, Spain, February 2025

In one line: Solid but unlikely to last.

Melanie Debono (Senior Eurozone Economist)Eurozone

7 April 2025 Eurozone Monitor Markets, and baseline forecasts, are on the ropes from US tariffs

• The markets’ verdict is clear; trade uncertainty is a disinflationary shock, but we’re not convinced.
• We now think the ECB will cut its policy rate later this month, by 25bp, for a terminal rate of 2.25%.
• A high export ratio for EZ industry means higher US tariffs are a risk; construction is looking better.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Inflation, Switzerland, March 2025

In one line: Holding at a 46-month low, but will rise again soon; Swiss retaliation to US tariff hikes poses an upside risk.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Unemployment, Eurozone, February 2025

In one line:  A new record low; another data point for ECB hawks. 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: PMI, Switzerland, March 2025

In one line: Our PM composite PMI points to another solid increase in GDP in Q1.

Melanie Debono (Senior Eurozone Economist)Eurozone