Pantheon Macroeconomics

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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 info@pantheonmacro.com, or contact your account rep

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

Daily Monitor Chartbook

22 November 2023 Eurozone Monitor Early Q3 Wage Data Support the ECB's More Hawkish Policymakers

  • Negotiated wage growth in the EZ accelerated slightly in Q3, likely boosted by Germany.
  • Market expectations and ECB communication are now wildly at odds; something has to give soon.
  • We still see scope for easing early next year, but this call depends on a shift in language in December.

Claus Vistesen (Chief Eurozone Economist)Eurozone

21 November 2023 Eurozone Monitor Negotiated Wage Growth Likely Eased in Q3, but Not by Much

  • Today’s negotiated wage figures likely will show that wage growth eased in Q3, but only marginally.
  • Construction output edged up in September; survey data suggest this was reversed in October...
  • ...We think the sector will be a drag on growth again in Q4; luckily it accounts for only 5% of EZ GDP.

Claus Vistesen (Chief Eurozone Economist)Eurozone

17 November 2023 Eurozone Monitor Rising Savings Rate a Threat to the Outlook for Consumption

  • Higher real interest rates will likely keep precautionary savings high, raising the savings rate further...
  • ...If it rises gradually beyond our baseline by end- 2025, say to 18%, spending would fall next year...
  • ...But it would need to rise much further, and much quicker, for the EZ recession we expect to last longer.

Claus Vistesen (Chief Eurozone Economist)Eurozone

16 November 2023 Eurozone Monitor Will the ECB Acknowledge the Sharp Increase in EZ Real Rates?

  • Real rates in the EZ are now rising, even as the ECB stops hiking; we still see room for easing in Q1.
  • The private sector’s interest rate costs will rise in 2024, even if the ECB holds or even eases slightly.
  • Core inflation in France is now falling, EZ industry is still in recession, and EZ net trade likely rose in Q3.

Claus Vistesen (Chief Eurozone Economist)Eurozone

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Keywords for: Eurozone Documents

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