Pantheon Publications

Below is a list of our Publications for the last 5 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep.

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Melanie Debono (Senior Eurozone Economist)

13 February 2025 Eurozone Monitor Taking stock of spending from the EU Resilience & Recovery Facility

Only around 40% of EU Resilience & Recovery Facility cash has been disbursed to member states.
Bureaucracy, rising costs and supply-chain issues are holding back the pace of fund absorption.
A lot needs to be done by August 2026 to mobilise remaining funds; not everyone will get there.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Industrial Production, Spain, December 2024

In one line: Snapping back, but strength unlikely to continue.

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Retail Sales, EZ, December 2024

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

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: Construction PMIs, Eurozone, January 2025

In one line: Still pointing to underlying weakness in construction.

Melanie Debono (Senior Eurozone Economist)Eurozone

7 February 2025 Eurozone Monitor EZ house prices set to rise further this year, supporting spending

House prices rose by around 3.5% in 2024, much stronger than we were anticipating…
…A recovery in demand and still-subdued supply point to a further pick-up, supporting consumption.
German industry ended 2024 on a better note than we expected, according to advance turnover data.

Melanie Debono (Senior Eurozone Economist)Eurozone

5 February 2025 Eurozone Monitor GDP in Switzerland rose in Q4, unlike in Germany and the EZ

Swiss GDP likely rose by 0.9% in 2024, much better than the 0.2% decline in neighbouring Germany.
The US has not said it will raise tariffs on Swiss imports, but an EU-US trade tiff will still hurt slightly.
We continue to think the SNB easing cycle will end in March, though risks are tilted towards further easing.

Melanie Debono (Senior Eurozone Economist)Eurozone