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.

pmisMoney House Prices

23 Sept 2021 Another SNB Snoozefest; Limited Impact from Evergrande on EZ

  • No one expects any changes at the SNB today, us included; we think policy will be on hold until 2024.
  • The CHF will strengthen to the end of the year, but not enough to warrant significant FX intervention.
  • Markets are worried about Evergrande—rightly—but contagion is limited, for now.

Claus Vistesen (Chief Eurozone Economist)Eurozone

7 Sept 2021 Major Orders Flatter Jump in German Manufacturing Demand

  • The July jump in German factory orders was driven entirely by major transport equipment.
  • Industrial production in Germany rebounded in July, but we still think the trend is sideways.
  • Spain should grow faster than elsewhere in Q3 and perhaps even Q4, but will continue to lag its peers

Claus Vistesen (Chief Eurozone Economist)Eurozone

24 Aug 2021 Including Housing Costs would lift EZ HICP Inflation, but not by Much

  • There are many statistical hurdles to overcome to include housing costs into the EZ HICP...
  • ...A rough & ready estimate suggests inflation would have been 0.3pp higher, on average, since 2011.
  • Even if house price growth continues to accelerate, we doubt it will lead to tighter monetary policy.

Claus Vistesen (Chief Eurozone Economist)Eurozone

28 July 2021 A Sneak-Peek at the Likely Pace of EZ GDP growth in H1 2022

Robust M1 growth points to solid GDP growth in the Eurozone, once the dust settles from reopening.
Loan growth is slowing, but that's mainly due to base effects; the underlying trend remains robust. 
Non-financial firms are substituting short-term for long-term lending, a good sign for investment.

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: U.K. Official House Price Index, March 2021

In one line: Prices are surging now, but likely will be marginally below March’s level by year-end.

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