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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.

EZ Datanote: Unemployment and State CPIs, Germany, February 2026

In one line: Stability in the labour market, for now; state CPIs tilt dovish. 

EZ Datanote: ECB CES, Eurozone, January 2026

In one line: Still well above 2%, but little impact on the ECB’s reaction function. 

EZ Datanote: Advance Inflation & Consumers' Spending, France, Feb/Jan 2026

In one line: EZ inflation still looks dovish for February, but not enough to shift the ECB’s stance. 

EZ Datanote: EC Sentiment, Eurozone, February 2026

In one line: Sentiment edges down, price pressures remain elevated. 

EZ Datanote: Money Supply, Eurozone, January 2026

In one line: A strong rise in M1 growth; did lending growth really slow?

EZ Datanote: ISTAT Business Confidence, Italy, February 2026

In one line: Slight deterioration, but consumers and retailers are upbeat.

27 February 2026 Eurozone Monitor EZ real M1 growth snaps back, but loan growth stumbles

  • M1 growth leapt in January, but loan growth to non-financial firms slowed…or did it?
  • The EC confidence survey fell in February, but the probability of a recession in the Eurozone is still low.  
  • Business sentiment in Italy edged down this month, but we remain optimistic about growth in 2026.

EZ Datanote: Final Inflation, Eurozone, January 2026

In one line: Dovish, but far from underwriting a further rate cut. 

EZ Datanote: INSEE Consumer Confidence, France, February 2026

In one line: Sentiment improved, but unemployment fears remain high. 

EZ Datanote: Detailed Q4 GDP & GfK Consumer Confidence, Germany

In one line: Strong momentum in domestic demand, but risks still loom in early 2026.

26 February 2026 Eurozone Monitor Little support for further ECB easing in the January EZ HICP

  • EZ inflation will likely stay low in February, but the bar for further ECB easing remains high…
  • …A rebound in liquid fuel inflation is the main near-term upside risk to EZ inflation.
  • German domestic demand posted strong growth in Q4; just what the doctor ordered.

25 February 2026 Eurozone Monitor INSEE survey data warn of downside risk to growth in France

  • INSEE survey data point to downside risk to growth in French domestic demand, ex-inventories, in Q1. 
  • Investment in France is still struggling, and consumption growth is vulnerable to a reversal. 
  • We’re lowering our full-year 2026 growth forecast for France by 0.3pp, to 1.0%. 

24 February 2026 Eurozone Monitor Meet the new US tariff on the EU; (almost) the same as the old one

  • Mr. Trump’s new tariffs on the EU are little changed, but will they shift the timing of US imports?…
  • …A universal US tariff reduces the disinflationary threat to EZ core goods from Chinese dumping.
  • Italian energy prices will fall further this year, as the government aims to lower electricity and gas prices.

EZ Datanote: Advance PMIs, France, February 2026

In one line: A modest rebound, but GDP growth is doing better than implied by the PMIs. 

23 February 2026 Eurozone Monitor EZ February PMIs keep alive the idea of a modest cyclical upturn

  • Eurozone PMIs still support the idea of a modest cyclical upturn in the economy in early 2026.
  • Strength in German PMIs is key for the near-term outlook in the Eurozone; so far so good.
  • PMI output prices retreat a tad in February but remain inconsistent with further ECB easing.

EZ Datanote: Advance EC Consumer Confidence, Eurozone, February 2026

In one line: EZ consumer sentiment up once again, but by only a bit this time.

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