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15th May 2025 18:25EurozoneWeekly Monitor

  • We look for broad-based strength in the surveys for May, but we think it will be temporary. 
  • The Eurozone’s trade surplus soared in Q1, boosted by tariff front-running in pharmaceuticals.
  • The EZ runs a deficit with the US in services, but a surplus if intellectual property is excluded.

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Keywords for: 19 May 2025 Eurozone Monitor

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