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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.

germany

EZ Datanote: Trade Balance, Germany, October

In one line: The rebound will continue as the slide in imports has further to run.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Unemployment, EZ, October 2022

In one line: A new record low; labour market resilience will fade soon.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Retail Sales, Germany, October

In one line: German retail sales tanked at the start of Q4. 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Unemployment, Germany, November

In one line: Waning demand for labour suggests the jobless rate has further to rise 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: State CPIs, Germany, November 2022

In one line: German inflation likely undershot the consensus in November, slightly.

Claus Vistesen (Chief Eurozone Economist)Eurozone

28 Nov 2022 Eurozone Monitor Don't be Fooled by Robust Q3 German GDP data

The detailed Q3 GDP data in Germany paint too rosy a picture of growth; a recession is coming. 

German consumers’ spending has been resilient so far, but we think this will end in Q4 and Q1. 

We now see German growth of just 0.3% in 2023, but that’s still a lot better than the -0.7% consensus. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: GDP, Trade & ZEW, EZ & Germany, Q3 2022/Sep/Nov

In one line: Confirmation of the downturn in Q3; investor sentiment remains depressed.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: GDP, Trade & ZEW, EZ & Germany, Q3 2022/Sep/Nov

In one line: Confirmation of the downturn in Q3; investor sentiment remains depressed.

Melanie Debono (Senior Eurozone Economist)Eurozone

14 Nov 2022 Eurozone Monitor Germany's Yield Curve is Inverted; How Will it Un-Invert?

  • Germany’s yield curve is now inverted, driven mainly by a repricing in short-term interest rates.
  • We think the curve will stay inverted until Q1-23, after which it will re-steepen via higher 10-year yields.
  • Core inflation in Germany likely has peaked, but it will stay at 4-to-5% through H1-23, at least.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Final Inflation, Germany, October 2022

In one line: Energy remains the key driver, but the core looks “uncomfortably high” too.

Claus Vistesen (Chief Eurozone Economist)Eurozone

7 Nov 2022 Eurozone Monitor Leading Indicators Point to a Big Q4 Fall in German Manufacturing

  • Factory orders in Germany are starting to match the grim surveys; output is set for a big fall in Q4.
  • Early evidence suggests that EZ industrial output was resilient at the end of the third quarter.
  • The composite EZ PMI was revised up marginally in October, but still points to a recession ahead.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: German Unemployment & Final EZ Manufacturing PMIs, October 2022

In one line: Resilience in Germany’s labour market; EZ manufacturing is in a tail-spin.

Claus Vistesen (Chief Eurozone Economist)Eurozone

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