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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.

August

25 Oct 2021 If the Supply Side Can't Move, Demand will Have to Fall

  • The composite PMIs are still consistent with robust GDP growth, but risks are stacked to the downside.
  • If the PMIs are right, demand is now falling to match fixed supply; that means slower GDP growth.
  • We look for another soft IFO today, but next week's consumer sentiment data should be more resilient.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Trade Balance, Eurozone, August 2021

  • In one line: The EZ trade surplus with EFTA has vanished, apparently. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Trade Balance, Germany, August 2021

  • In one line: Back to square one; imports roared ahead of exports, again. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Trade Balance, France, August 2021

  • In one line: A stable goods deficit, but the services surplus is rising quickly. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Industrial Production, Germany, August 2021

  • In one line: Ugly; Q3 GDP growth forecasts will have to come down. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Factory Orders, Germany, August 2021

  • In one line: German manufacturing hit a brick wall in Q3; GDP growth downgrades coming soon. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Detailed Inflation, France, August 2021

  • In one line: Lifted by a leap in inflation of clothing; energy inflation is still rising. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

15 Sept 2021 Will High, and Rising, Gas Prices Keep EZ Inflation Elevated?

  • The trend in oil prices suggests energy inflation will soon fall and even turn negative next year in the EZ...
  • ...But high, and rising, gas prices will offset this impact, keeping energy inflation sticky.
  • We doubt this will lead the ECB to taper more quickly, particularly if some restrictions return in winter.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Detailed inflation, Germany, August 2021

  • In one line: Barnstorming, but still distorted by one-off factors.

Claus Vistesen (Chief Eurozone Economist)Eurozone

9 Sept 2021 The ECB will Signal a Slower Q4 Pace of PEPP Purchases Today

  • The ECB will announce a slowdown in the pace of PEPP today, but markets likely won't flinch.
  • The central bank's new forecasts will deliver upgrades to the outlook for growth and inflation.
  • Trade data in France suggest that tourism is rebounding, but a full recovery is still a way off.

Claus Vistesen (Chief Eurozone Economist)Eurozone

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Keywords for: Eurozone Documents

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