Pantheon Publications

CHINA+ DATA WRAP 3 April 2025: China's response to US tariff hike

China likely to step up fiscal and monetary policy support, allow weaker RMB, in response to hefty US tariff hike; 
Caixin services activity rises

PM Datanote: US ADP Employment, March

ADP distracts more than it informs.

PM Datanote: Industrial Production, Brazil, February, 2025

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

Global Datanote: Manufacturing PMI, ASEAN, March

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

PANTHEON EM ASIA DATA WRAP 2 April 2025

The nascent improvement in ASEAN manufacturing is far from comprehensive

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.

UK Datanote: UK Final Manufacturing PMI, March 2025

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

PM Datanote: US ISM Manufacturing Survey, March

Tariff uncertainty is weighing on manufacturing.

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

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

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

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

EZ Datanote: Unemployment, Eurozone, February 2025

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

EZ Datanote: PMI, Switzerland, March 2025

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

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.

EM Asia Datanote: Core Industries, India, February

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