Pantheon Publications

PM Datanote: CPI, US, September 2025

Tariffs still pushing goods inflation higher, but services inflation looks soft under the hood.

Global Datanote: Flash PMIs, EZ, October 2025

In one line: Driven higher by pick up in German activity. 

Global Datanote: Flash PMIs, Germany, October 2025

In one line: Here comes the turn in Germany.

Global Datanote: INSEE Consumer Confidence & Flash PMIs, France, October 2025

In one line: PMIs remain terrible, but INSEE survey data look better.

Global Datanote: Flash Mfg PMI, Japan, October, 2025

In one line: Fading demand weighs on flash PMI manufacturing activity

Global Datanote: Exports, National CPI, Japan, September

In one line:  BoJ won’t be shocked by modest rise in inflation; likely to hold rates next week waiting for clarity on the new government’s fiscal easing

Global Datanote: Economic activity index, Mexico, August, 2025

• In one line: Uneven performance, but risks remain tilted to the downside.

Global Datanote: Bank Indonesia Decision, October 2025

• In one line: Another month, another surprise… this time for a pause, as the Board adopts wait-and-see.

22 October 2025 Global Monitor GDP growth in the Eurozone remained tepid in Q3

• US - September CPI to rise sharply, but by less than markets are pricing in
• EUROZONE - EZ GDP likely grew by 0.1% over the quarter in Q3, as in Q2
• UK - Another big Budget to add ‘belt and braces’ to fiscal headroom
• CHINA+ - What else do we expect in China’s 15th Five-Year Plan?
• EM ASIA -Malaysia’s Q3 GDP surprisingly rises, thanks to extractives
• LATAM - Slight momentum in Brazil’s economy, but the outlook is fragile

Global Datanote: Final Inflation, Eurozone, September 2025

• In one line: Core is too strong for another rate cut in Q4. 

Global Datanote: Economic activity index, Brazil, August, 2025

• In one line: A modest improvement, but risks remain biased to the downside.

15 October 2025 Global Monitor China-US trade relations sour again

• US - What’s at stake if the AI boom turns to bust?
• EUROZONE - We’re lifting our Q3 GDP growth forecast for France
• UK - GDP likely unchanged in August as industrial output drags on growth
• CHINA+ - Renewed US-China trade tensions highlight fragility of their relations
• EM ASIA - A rude, if long overdue, awakening for the BSP’s talk of a “sweet spot”
• LATAM - BraMex inflation: diverging paths, same cautious central banks

Global Datanote: CPI, India, September 2025

• In one line: Food & beverage deflation is back, and will likely deepen this month.

Global Datanote: CPI, Mexico, September, 2025

• In one line: Disinflation holds, but core pressures persist.

Global Datanote: CPI, Brazil, September, 2025

• In one line: Inflation rises marginally, but disinflation remains on track.

Global Datanote: Bangko Sentral ng Pilipinas Decision, October 2025

• In one line: Surprise, surprise… we weren’t at the “sweet spot” after all.

Global Datanote: Exports, Korea, September, 2025

In one line: Korea’s headline export surge masks WDA slump; Strong chip demand still underpins outlook.

Global Datanote: Bank of Thailand Decision, October 2025

• In one line: Expect this to be a temporary pause from the new Governor and Co.

8 October 2025 Global Monitor It's a matter of when, not if, the RBI eases further

• US - Most alternative indicators of payrolls are garbage
• EUROZONE - Swiss inflation is low and set to fall, but the SNB will ignore it
• UK - H1 growth well-balanced, if we smooth through front-running
• CHINA+ -Japan’s likely new prime minister could lead the BoJ to delay rate rise
• EM ASIA - Still a matter of when, not if, the RBI will cut again; we look for December
• LATAM - BanRep holds rates as inflation persists, fiscal weakness deepens

Global Datanote: Inflation, Switzerland, September 2025

• In one line: At 0.2% for third straight month.