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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China's November activity data show goods consumption softening and fixed asset investment worsening
Upstream food price pressures in India are reviving more noticeably
- In one line: Muddied by residual seasonality, but vegetable-price pressures are reviving.
- In one line: Muddied by residual seasonality, but vegetable-price pressures are reviving.
In one line: still looking for signs of private sector credit demand
In one line: Unrevised, lowest in the big four.
In one line: A fall is coming in January.
Malaysian retail sales are pretty static, again.
- GDP disappointed expectations, falling 0.1% month-to-month in October, as services output fell sharply.
- Autos production will boost activity in November, and a number of erratic falls should rebound...
- This week’s data have a high bar to keep the MPC on hold, but little room remains to keep cutting in 2026.
- EZ inflation and GDP growth have both come in above the ECB’s September estimates lately.
- The ECB is set to revise up its forecasts but keep rates and other policy settings unchanged this week.
- Chances of additional rate cuts are retreating; the ECB easing cycle is over.
- China’s Central Economic Work Conference last week was a damp squib...
- ...Unsurprisingly, given the relative calm compared with last year ’s impending tariff drama.
- Policymakers are signalling confidence, meaning they will stick to broad settings for 2026, with a few tweaks..
- The November bounce in Indian inflation was due mainly to lingering Diwali-related noise in food…
- …Supply points to a persistent rise in food CPI in 2026, but low expectations will be a ‘core’ anchor.
- Malaysian retail sales growth is still flat, but the government is trying to boost tourism for 2026.
- Mexico’s industrial rebound in October reflects only base effects and construction timing.
- Manufacturing remains under strain, as US demand softens and trade policy uncertainty freezes capex.
- USMCA-renewal and tariff risks will dominate industry’s performance more than domestic demand.
- We expect a first estimate of a mere 50K rise in November payrolls, despite slightly better surveys...
- ...Retailers have hired relatively few seasonal workers; the upward bias in the first estimate should be mild.
- The unemployment rate likely ticked up to 4.5% in November, from 4.4% in October.
- In one line: Retail gains signal early stabilisation.
In one line:signalling confidence, no major course shift
In one line: On hold, as we expect it to be until early 2027.
- In one line: On hold, as we expect it to be until early 2027.
- China’s inflation outturn was a mixed bag, with CPI
rising but PPI reflation seeming to lose momentum.
- A closer look reveals the CPI jump was due to transient
factors, while PPI was dragged down by base effects.
- Weak domestic demand persisted in November, with all
eyes on the CEWC for hints on future policy direction.
- In one line: Easing “nearing its end”, but we still see a terminal rate of 4.25%.
