Pantheon Macroeconomics

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29th Mar 2023 14:40Eurozone, Daily Monitor

  • EZ consumers' spending is on track for another decline in Q1, but should then turn a corner.
  • A rebound in real employee compensation should support a modest recovery in spending in H2...
  • ...But the shift from overnight to time deposits is a downside risk for households' spending propensity.

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Keywords for: 30 Mar 2023 Eurozone Monitor

deposits, real employee compensation, consumption, eurozone, ez, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence