Pantheon Publications

PM Datanote: US ADP Employment, March

ADP distracts more than it informs.

Oliver Allen (Senior US Economist)US

PM Datanote: Industrial Production, Brazil, February, 2025

• In one line: Reduced confidence and tight financial conditions are drags.

Andrés Abadía (Chief LatAm Economist)Latin America

Global Datanote: Manufacturing PMI, ASEAN, March

• In one line: The nascent improvement is far from comprehensive.

Miguel Chanco (Chief EM Asia Economist)Global

PANTHEON EM ASIA DATA WRAP 2 April 2025

The nascent improvement in ASEAN manufacturing is far from comprehensive

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

UK Datanote: U.K. Nationwide House Prices, March 2025

• In one line: Stamp duty changes halt house price inflation in March, but it will accelerate again.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Final Manufacturing PMI, March 2025

• In one line: Tariffs will keep manufacturing output falling for the forseeable future.

Rob Wood (Chief UK Economist)UK

PM Datanote: US ISM Manufacturing Survey, March

Tariff uncertainty is weighing on manufacturing.

Oliver Allen (Senior US Economist)US

Global Datanote: Economic activity index, Chile, February, 2025

• In one line: A poor headline, but the underlying trend remains positive.

Andrés Abadía (Chief LatAm Economist)Global

PM Datanote: Economic activity index, Chile, February, 2025

• In one line: A poor headline, but the underlying trend remains positive.

Andrés Abadía (Chief LatAm Economist)Latin America

EZ Datanote: Unemployment, Eurozone, February 2025

In one line:  A new record low; another data point for ECB hawks. 

Melanie Debono (Senior Eurozone Economist)Eurozone

EZ Datanote: PMI, Switzerland, March 2025

In one line: Our PM composite PMI points to another solid increase in GDP in Q1.

Melanie Debono (Senior Eurozone Economist)Eurozone

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.

Claus Vistesen (Chief Eurozone Economist)Eurozone

EM Asia Datanote: Core Industries, India, February

• In one line: Blame mainly an unsurprising reversal of the January jump in petroleum products.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

EZ Datanote: State CPIs, Germany, March 2025

In one line: Headline in line with consensus; core looks strong considering Easter effects. 

Claus Vistesen (Chief Eurozone Economist)Eurozone

EM Asia Datanote: Retail Sales, Thailand, January

• In one line: First red ink since mid-2023, as the inexplicable lift from ‘other’ sales continues to unwind.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

PM Datanote: Industrial Production and Retail Sales, Chile, February, 2025

• In one line: Poor headlines, but we think growth momentum will remain positive in H1.

Andrés Abadía (Chief LatAm Economist)Latin America

EZ Datanote: Retail Sales, Germany, February 2025

In one line: Great, but leading indicators point to a slowdown.

Claus Vistesen (Chief Eurozone Economist)Eurozone