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  • The EZ composite PMI was revised up in November, pointing to stronger growth in Q4...
  • ...But early hard data for October are weak, and the PMI points to softness in construction.
  • Switzerland’s PMIs suggest recession risk remains despite the US-Swiss trade deal.

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Consistently Right
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Keywords for: 5 December 2025 Eurozone Monitor Recent days' data a mixed bag, but we maintain

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