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  • The French and Spanish economies are losing pace in early Q4, according to the hard data.
  • Italian data for October were weak, but carry-overs suggest a better Q4 than Q3 anyway.
  • The spike in German wage growth was likely due to one-offs; it will pull up the EZ total.

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Keywords for: 11 December 2025 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence