Pantheon Macroeconomics

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  • We see downside risks to the early inflation data for January in Germany and Spain, out this week…
  • …But we’re slightly above the consensus on Eurozone Q4 GDP growth, at 0.3%. 
  • Will the January jump in the services output price PMI be replicated in the EC survey? We doubt it. 

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Keywords for: 27 January 2026 Eurozone Monitor

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