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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Claus Vistesen (Chief Eurozone Economist)

EZ Datanote: Advance Inflation, Eurozone, January 2025

In one line: Hot, but all eyes on tariffs this morning.

Claus Vistesen (Chief Eurozone Economist)Eurozone

4 February 2025 Eurozone Monitor A 10pp hike in US tariffs on EU imports priced in by EURUSD

President Trump will soon impose tariffs on imports from the EU, but the details are still up in the air.
A 10pp increase in tariffs on EU goods is all but fully factored in by the drop in EURUSD since Q3.
EZ headline and core inflation beat the consensus in January; still no perfect landing at 2% in sight.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Unemployment & State CPIs, Germany, January 2025

In one line: Unemployment is still rising; soft state CPIs can’t be extrapolated to the HICP.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Advance Inflation, France, January 2025

In one line: Still (very) friendly to ECB doves.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EZ Datanote: Retail Sales, Germany, December 2024

In one line: A poor finish to 2024, but probably not as bad as initially reported.

Claus Vistesen (Chief Eurozone Economist)Eurozone

3 February 2025 Eurozone Monitor Risks tilted slightly to the downside for EZ headline inflation today

We now see EZ headline inflation unchanged at 2.4% in January, with a 0.1pp dip in the core, to 2.6%.
Selling price expectations are rising in Germany and France, but core inflation will dip further in Q1.
Is the consumption recovery in the Eurozone finally kicking in? We think so.

Claus Vistesen (Chief Eurozone Economist)Eurozone