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Terms and conditions and privacy policy for browsing the Pantheon Macroeconomics website.

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Welcome to Pantheon Macroeconomics, leading provider of Independent Macroeconomic Research

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In one line: Permits are the key number, and they are headed back up.

Ian Shepherdson

Ian Shepherdson

Ian Shepherdson's mission is to present complex economic ideas in a clear, understandable and actionable manner to financial market professionals. He has worked in and around financial markets for more than 20 years, developing a strong sense for what is important to investors, traders, salespeople and risk managers.

Miguel Chanco

Miguel Chanco

Miguel Chanco helps to produce Pantheon's Asia service, having covered several parts of the region for nearly ten years. He was most recently the Lead Analyst for ASEAN at the Economist Intelligence Unit. Prior to that role, Miguel focused on India and frontier markets in South Asia for Capital Economics and BMI Research, Fitch Group.

PM Datanote: Car Registrations, EU 27, October

PM Datanote: Car Registrations, EU 27, October

In one line: Car sales still going downhill. 

Pantheon Macroeconomics Ltd Compliance Statement

Pantheon Macroeconomics Ltd Compliance Statement

Pantheon Macroeconomics Ltd Compliance Statement

Datanotes

Datanotes

Short, punchy analysis of major economic data, emailed within a few minutes of their release

Pantheon ranked top forecaster of the U.K. economy in 2018

Pantheon ranked top forecaster of the U.K. economy in 2018

We are pleased to announce that our Chief U.K. Economist, Samuel Tombs, was ranked the most accurate forecaster of the U.K. economy in 2018 by The Sunday Times.

Andres Abadia

Andres Abadia

Andres Abadia authors our Latin American service. Andres is a native of Colombia and has many years' experience covering the global economy, with a particular focus on Latin America. In 2017, he won the Thomson Reuters Starmine Top Forecaster Award for Latam FX.Andres's research covers Brazil, Mexico, Argentina, Chile, Colombia, Peru and Venezuela, focusing on economic, political and financial developments. The countries of Latin America differ substantially in terms of structure, business cycle and politics, and Andres' researchhighlights the impact of these differences on currencies, interest rates and equity markets. He believes that most LatAm economies are heavily influenced by cyclical forces in the U.S. and China, as well as domestic policy shocks and local politics. He keeps a close eye on both external and domestic developments to forecast their effects on LatAm economies, monetary policy, and financial markets.Before starting to work at Pantheon Macroeconomics in 2013, Dr. Abadia was the Head of Research for Arcalia/Bancaja (now Bankia) in Madrid, and formerly Chief Economist for the same institution. Previously, he worked at Ahorro Coporacion Financiera, as an Economist.Andres earned a PhD in Applied Economics, and a Masters Degree in Economics and International Business Administration from Universidad Autónoma de Madrid, and a BSc in Economics from the Universidad Externado de Colombia.

Robert Wood

Robert Wood

Rob Wood topped the Sunday Times annual ranking of forecasters for the UK economy in 2020, and has earned plaudits for his forecasting

Claus Vistesen

Claus Vistesen

Claus Vistesen has several years' experience in the independent macro research space, as a freelancer, consultant and, latterly, as Head of Research of Variant Perception, Inc. He holds Master's degrees in economics and finance from the Copenhagen Business School and the University of Hull.

About Us

About Us

Pantheon Macroeconomics aims to be the premier provider of unbiased, independent macroeconomic research to financial market professionals around the world

Melanie Debono

Melanie Debono

Melanie joined Pantheon in 2021 with nearly a decade's experience in independent economic research. She focuses on the Eurozone, with particular emphasis on Italy and Spain, and also covers Switzerland and SNB policy.

Samuel Tombs

Samuel Tombs

Samuel Tombs has won multiple awards for his UK forecasts. He had the highest average forecast score in Bloomberg's 2021 panel

Duncan Wrigley

Duncan Wrigley

Duncan produces the China+ Service for Pantheon, covering China, Japan and Korea. He was previously Chief Strategist at Everbright Securities International.

Other Services

Other Services

Other services from Pantheon.

Latin America

Latin America

Latin America Document Vault

Oliver Allen

Oliver Allen

Oliver joined Pantheon in January 2024 to focus on the U.S. economy. Oliver brings several years' experience in independent macro research

Weekly Economic Monitor

Weekly Economic Monitor

Weekly economic research from the U.S., Eurozone, Latin America, U.K. and Asia

Kelvin Lam

Kelvin Lam

Kelvin Lam has spent a decade and a half working in financial institutions in London and Hong Kong, focusing on macroeconomic research.

Products and Services

Products and Services

Our Independent Economic Research is presented in a number of different formats

Eurozone

Eurozone

Eurozone Document Vault

China+

China+

China+ Document Vault

Global

Global

Global Document Vault

Daily Economic Monitor

Daily Economic Monitor

Daily economic research from the U.S., Eurozone, Latin America, U.K. and Asia

US

US

U.S. Document Vault

UK

UK

U.K. Document Vault

Emerging Asia

Emerging Asia

Emerging Asia Document Vault

UK Housing Watch

UK Housing Watch

40 illuminating charts, covering all aspects of the market, followed by a detailed forecast page.

Chartbook

Chartbook

Monthly publication telling the economic story of each region in roughly 40 charts

Jonathan Loynes

Jonathan Loynes

Jonathan Loynes is an experienced macro-economist who spent 18 years at economic consultancy Capital Economics, latterly as Chief Economist.

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Sitemap of the Pantheon Macroeconomics website.

EM Asia Datanote: Core Industries, India, October

EM Asia Datanote: Core Industries, India, October

In one line: A modest acceleration, and one that was flattered by Diwali calendar effects.

UK Datanote: UK Money & Credit, October 2024

UK Datanote: UK Money & Credit, October 2024

In one line: Tax hike fears lead households to dispose of assets and rush to complete house purchases.

Global Datanote: Manufacturing PMI, ASEAN, November

Global Datanote: Manufacturing PMI, ASEAN, November

In one line: A narrow and likely short-lived uptick.

PM Datanote: Industrial Output, Mexico, October, 2024

PM Datanote: Industrial Output, Mexico, October, 2024

In one line: A poor start to Q4, and the near-term outlook is grim.

EZ Datanote: ECB Press Conference, December 2024

EZ Datanote: ECB Press Conference, December 2024

In one line: Dovish, but staying open on the path in 2025 and the level of the neutral rate.

Global Datanote: ECB Press Conference, December 2024

Global Datanote: ECB Press Conference, December 2024

In one line: Dovish, but staying open on the path in 2025 and the level of the neutral rate.

EZ Datanote: IFO, Germany, December 2024

EZ Datanote: IFO, Germany, December 2024

In one line: Sinking to its lowest since May 2020, and the first Covid lockdowns.

UK Datanote: UK GDP October 2024

UK Datanote: UK GDP October 2024

In one line: Economy grinds to a halt as Budget uncertainty and tariff threats weigh on businesses.

UK Datanote: UK Final Manufacturing PMI, December 2024

UK Datanote: UK Final Manufacturing PMI, December 2024

In one line: The manufacturing PMI drops in December as demand weakens and sentiment sours.

China+ Datanote: Exports, Korea, December

China+ Datanote: Exports, Korea, December

In one line: Despite upside surprises on headline numbers, Korean WDA exports weakened in December amid regional demand slowdown and political uncertainty

EZ Datanote: Sentix & Final PMIs, Eurozone, Jan/Dec

EZ Datanote: Sentix & Final PMIs, Eurozone, Jan/Dec

In one line: Relief in the PMIs; investor sentiment and seasonals signal further gains ahead.

Global Datanote: Sentix & Final PMIs, Eurozone, Jan/Dec

Global Datanote: Sentix & Final PMIs, Eurozone, Jan/Dec

In one line: Relief in the PMIs; investor sentiment and seasonals signal further gains ahead.

9 January 2025 LatAm Monitor Fiscal and political worries, and global noise, remain hurdles

9 January 2025 LatAm Monitor Fiscal and political worries, and global noise, remain hurdles

Fiscal and political worries, and global noise, remain hurdles

PM Datanote: Industrial Output, Mexico, November, 2024

PM Datanote: Industrial Output, Mexico, November, 2024

In one line: A modest improvement, but the outlook remains difficult.

PM Datanote: Inflation IPCA-15, Brazil, January, 2025

PM Datanote: Inflation IPCA-15, Brazil, January, 2025

In one line: Overshooting expectations, and the outlook remains difficult.

PM Datanote: Economic activity index, Mexico, November, 2024

PM Datanote: Economic activity index, Mexico, November, 2024

In one line: Under pressure, and threats abound.

Global Datanote: Economic activity index, Mexico, November, 2024

Global Datanote: Economic activity index, Mexico, November, 2024

In one line: Under pressure, and threats abound.

Global Datanote: Monetary policy meeting, Brazil, January, 2025

Global Datanote: Monetary policy meeting, Brazil, January, 2025

In one line: Another bold rate hike and a continued hawkish stance.

PM Datanote: Monetary policy meeting, Brazil, January, 2025

PM Datanote: Monetary policy meeting, Brazil, January, 2025

In one line: Another bold rate hike and a continued hawkish stance.

PM Datanote: Economic activity index, Chile, December, 2024

PM Datanote: Economic activity index, Chile, December, 2024

In one line: The recovery continues, and expect further good news in Q1.

Global Datanote: Economic activity index, Chile, December, 2024

Global Datanote: Economic activity index, Chile, December, 2024

In one line: The recovery continues, and expect further good news in Q1.

EZ Datanote: Retail Sales, EZ, December 2024

EZ Datanote: Retail Sales, EZ, December 2024

In one line: Retail sales still rose in Q4, and further increases are likely.

UK Datanote: Construction PMI, January 2025

UK Datanote: Construction PMI, January 2025

In one line: The Construction PMI tanks, but was driven by erratic falls and should improve.

PM Datanote: Industrial Production, Mexico, December, 2024

PM Datanote: Industrial Production, Mexico, December, 2024

In one line: Under severe strain, and risks are tilted to the downside.

PM Datanote: Retail Sales, Brazil, December, 2024

PM Datanote: Retail Sales, Brazil, December, 2024

In one line: An ugly finish to 2024, and Q1 2025 will be difficult.

PM Datanote: BCRP Rate Decision, Peru, February, 2025

PM Datanote: BCRP Rate Decision, Peru, February, 2025

In one line: On hold and maintaining a cautious stance.

Global Datanote: BCRP Rate Decision, Peru, February, 2025

Global Datanote: BCRP Rate Decision, Peru, February, 2025

In one line: On hold and maintaining a cautious stance.

20 February 2025 LatAm Monitor President Trump's second term reshaping LatAm's political landscape-RESEND

20 February 2025 LatAm Monitor President Trump's second term reshaping LatAm's political landscape-RESEND

President Trump's second term reshaping LatAm's political landscape-RESEND

PM Datanote: US Housing Starts, January

PM Datanote: US Housing Starts, January

The underlying trend in residential construction is flat and likely to turn lower.

EM Asia Datanote: GDP, India, Q4

EM Asia Datanote: GDP, India, Q4

In one line: A trade- and consumption-driven bounce; the economy is still operating below potential.

China+ Datanote: Official Manufacturing PMI, China, February

China+ Datanote: Official Manufacturing PMI, China, February

Post-holiday activity rebound, but firms still wary ahead of the Two Sessions and tariff hikes

CHINA+ DATA WRAP 4 March 2025: Korean manufacturing sentiment dented

CHINA+ DATA WRAP 4 March 2025: Korean manufacturing sentiment dented

Korean manufacturing sentiment dented by sagging US and European orders

PM Datanote: US JOLTS, December

PM Datanote: US JOLTS, December

Labor demand still deteriorating, amid tight monetary policy and elevated uncertainty

19 March 2025 Eurozone Monitor First real signs of US firms front-running tariffs...and EU firms too

19 March 2025 Eurozone Monitor First real signs of US firms front-running tariffs...and EU firms too

First real signs of US firms front-running tariffs...and EU firms too

UK Datanote: U.K. CBI Industrial Trends Survey, March 2025

UK Datanote: U.K. CBI Industrial Trends Survey, March 2025

In one line: Trade uncertainty will continue to weigh on manufacturing sentiment and activity.

26 March 2025 US Monitor A consumer slowdown looks more likely than an imminent recession

26 March 2025 US Monitor A consumer slowdown looks more likely than an imminent recession

A consumer slowdown looks more likely than an imminent recession

EZ Datanote: IFO BCI, Germany, March 2025

EZ Datanote: IFO BCI, Germany, March 2025

In one line: Election result and fiscal stimulus boost sentiment.

March 2025 - Latin America Chartbook

March 2025 - Latin America Chartbook

CENTRAL BANKS FACE A COMPLEX EXTERNAL ENVIRONMENT......VIGILANCE AND POLICY ADJUSTMENTS ARE NEEDED

EZ Datanote: Money Supply, Eurozone, February 2025

EZ Datanote: Money Supply, Eurozone, February 2025

In one line: Money and credit data still positive on outlook for EZ economy.

PM Datanote: US Advance Goods Trade, February

PM Datanote: US Advance Goods Trade, February

Gold trade and pre-tariff stockpiling are distorting the numbers.

1 April 2025 UK Monitor Consumers are back, cutting saving and spending on plastic

1 April 2025 UK Monitor Consumers are back, cutting saving and spending on plastic

Consumers are back, cutting saving and spending on plastic

1 April 2025 US Monitor Payroll growth likely slowed in March, but to a better-than-recession pace

1 April 2025 US Monitor Payroll growth likely slowed in March, but to a better-than-recession pace

Payroll growth likely slowed in March, but to a better-than-recession pace

EZ Datanote: Advance Inflation, Germany, March 2025

EZ Datanote: Advance Inflation, Germany, March 2025

In one line: We now see the March EZ HICP up by 0.7% m/m, and by 2.2% y/y.

UK Datanote: Construction PMI, March 2025

UK Datanote: Construction PMI, March 2025

In one line: The Construction sector will continue to recover as planning reforms and Government spending boost sentiment.

 

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