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Eurozone Publications

Below is a list of our Eurozone Publications for the last 5 months. If you are looking for reports older than 5 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.

Chartbook Datanotes Weekly Monitor

April 2025 - EZ Economic Chartbook

UNCERTAINTY OVER GLOBAL TRADE WILL WEIGH ON GROWTH...

  • ...A SHORT TECHNICAL RECESSION IN H2 IS NOW OUR BASELINE

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Retail Sales, Spain, March 2025

In one line: In line with our view that consumer spending growth is now slowing.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: INSEE Business Confidence, France, April

In one line: French industry intends to make hay while the sun is still shining.

Claus Vistesen (Chief Eurozone Economist)Eurozone

28 April 2025 Eurozone Monitor Robust inflation and growth data to lift EZ bond yields this week

  • Our forecasts for Q1 GDP and the April HICP imply upside risk for ECB rate expectations this week.
  • Robust national business surveys point to upside risk to our Q2 forecasts for GDP in Germany and France.
  • Tariff front-running seems to be just what the doctor ordered for manufacturing in France.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: IFO, Germany, April 2025

In one line: Lifted by tariff front-running, still pointing to downside risks to growth. 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: INSEE Consumer Confidence, France, April

In one line: Resilient, but labour market prospects remain difficult.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Trade & construction, EZ, February 2025

In one line: Don’t show Donald Trump the trade charts; Construction down but still defied surveys in Q1

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Flash PMIs, Germany, April 2025

In one line: As in France, domestic demand is rattled by tariff concerns and PMI shows clear signs of tariff front-running.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Flash PMIs, France, April 2025

In one line: Fastest fall in demand for services since Covid pulls down the headline.

Melanie Debono (Senior Eurozone Economist)Eurozone

22 April 2025 Eurozone Monitor A dovish, but also conditional, pivot from the ECB

  • The ECB is making a dovish shift, conditional on a benign tariff outcome for core inflation.
  • Energy prices and the euro can be cruel mistresses for policymakers looking for signals on inflation.
  • Markets are pricing in the tail-risk for ECB rates; we still think the Bank will be more conservative.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Detailed Inflation, Eurozone, March 2025

In one line: Falling oil prices and a stronger euro are gifts to ECB doves.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: ZEW, Germany, April & Industrial Production, EZ, February 2025

In one line: Tariffs hit investor sentiment hard; industrial production will feel the tariff burn but not until later in the year probably. 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: ECB BLS, EZ, Q1 2025

In one line: Banks tighten lending standards for firms & demand for credit eases again even before the shock of “Liberation Day". 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Detailed Inflation, France, March 2025

In one line: Soft, but selling prices point to upside risks for the core.

Claus Vistesen (Chief Eurozone Economist)Eurozone

14 April 2025 Eurozone Monitor The ECB will cut by 25bp this week but offer little guidance

  • The ECB will cut its deposit rate by 25bp this week, in line with the consensus.
  • Falling oil prices and a strengthening euro point to downside risk to the ECB’s June inflation forecasts.
  • ‘Uncertainty’ will be a key word for Ms. Lagarde this week, but doves have the upper hand, for now.

Claus Vistesen (Chief Eurozone Economist)Eurozone

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