Pantheon Macroeconomics

Best viewed on a device with a bigger screen...

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.

pmis

6 Sept 2021 The Balance of Evidence Still Points to a Robust Q3 in the EZ

  • Don't fret the July plunge in EZ retail sales; Q3 as a whole will be OK, and services will do even better.
  • The risk of new virus restrictions remains low, de- spite the uptick in new cases since the end of Q2.
  • Consumers' spending in services will deliver strong growth in Q3 in the major EZ economies.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Final PMIs, Eurozone, August 2021

  • In one line: Signs of a peak in momentum, but enough to support strong Q3 growth forecasts.

Claus Vistesen (Chief Eurozone Economist)Eurozone

2 Sept 2021 The Eurozone's Industrial Sector Remains in the Doldrums, for now

  • EZ manufacturing output is still hampered by supply-side woes, but it's not all bad news.
  • Unemployment in the EZ fell further at the start of Q3; we think the good news will keep coming.
  • SPD's lead in the German polls is startling, but not yet a game-changer for the final outcome.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Final Manufacturing PMIs, Eurozone, August 2021

  • In one line: Slower orders should ease some pressure on the supply side.

Claus Vistesen (Chief Eurozone Economist)Eurozone

31 Aug 2021 EZ Core Inflation Leapt in August, due Mainly to Technical Factors

  • Core inflation in the euro area rocketed in August, but we doubt that markets will notice.
  • PEPP tapering is coming, but the overall tenor of the ECB's communication remains as dovish as ever.
  • The EZ survey data are now softening, but that won't matter for GDP in Q3; for Q4, however, it might.

Claus Vistesen (Chief Eurozone Economist)Eurozone

13 Aug 2021 Did the Eurozone Survey Data Soften Midway through Q3?

  • The second Q2 GDP estimate for the EZ will confirm the advance report while we are away.
  • Detailed GDP data in Germany will show that consumers' spending rocketed in Q2.
  • We look for soft surveys for August, but we still think Q3 as a whole will be great for the EZ economy.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Factory Orders, Germany, June 2021

In one line: Orders recover from May’s plunge; turnover data point to another soft industrial output reading in June. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

5 Aug 2021 We Remain Optimistic about the Reopening Upturn in Ser vices

The PMIs confirm that the Q2 upturn in services continued at the start of the third quarter.
Data in France and Spain suggest that hospitality came roaring back in Q2; more to come in Q3.
EZ retail sales jumped by 3.4% in Q2; growth will slow in Q3, but should remain robust.

Claus Vistesen (Chief Eurozone Economist)Eurozone

3 Aug 2021 The Swiss Economy Entered Q3 on the Front Foot

Raft of Swiss data reaffirm our view that the economy is recovering quicker than the Eurozone.
The pick-up in Swiss inflation in July is nowhere near enough to set alarm bells off at the SNB...
... but a stronger franc all but cements the need for higher FX intervention.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Final Manufacturing PMIs, Eurozone, July

In one line: Solid, but firms have maxed out capacity utilisation. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

26 July 2021 The Economic Upturn in the EZ Continued at the Start of Q3

The PMIs point to a sustained, and strong, expan- sion in EZ economic activity at the start of Q3.

The renewed surge in virus cases is a threat to the lofty consensus Q3 forecast.

The EZ budget deficit remained wide in Q1, but it will come down as the economy recovers.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Advance PMIs, Eurozone, July 2021

In one line: Recovery continued in Q3, but concerns about the Delta variant are rising and supply issues remain.  

Claus Vistesen (Chief Eurozone Economist)Eurozone

6 July 2021 The ECB Probably will Come up with a New Inflation Target in Q3

Judging by the questions we're receiving from
readers, and reports in the financial news, the outcome
of the ECB's strategic policy review is now starting to occupy investors' minds.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Final PMIs, Eurozone, June 2021

In one line: Activity was stronger than initially thought in June, but third-wave risk is rising.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Final Manufacturing PMIs, Eurozone, June 2021

In one line: Still very strong, but the headline likely is now peaking.

Claus Vistesen (Chief Eurozone Economist)Eurozone

  Publication Filters

Change View: List   Small Grid  

Filter by Keyword

Filter by Publication Type

Filter by Author

Global Publications Only

Filter by Date

  Quick Tag Filters

Consistently Right

Access Key Enabled Navigation

Keywords for: Eurozone Documents

Eurozone Document Vault,