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Eurozone Publications

Below is a list of our Eurozone Publications for the last 5 months. If you are looking for reports older than 5 months please email info@pantheonmacro.com, or contact your account rep

Please use the filters on the right to search for a specific date or topic.

Chartbook Datanotes Daily Monitor Claus Vistesen (Chief Eurozone Economist)

EZ Datanote: ECB Rate Decision, April 2026

In one line: In wait-and-see mode, but we suspect with a hawkish bias. 

EZ Datanote: Advance Q1 GDP & April Unemployment, Germany

In one line: Q1 GDP boosted by consumption and net trade; labour market cracking in Q2? 

EZ Datanote: Retail Sales, Germany, March 2026

In one line: Grim, but appear unduly depressed by seasonals. 

EZ Datanote: Advance GDP, France, Q1 2026

In one line: Stung by falling energy consumption and plunge in construction. 

EZ Datanote: Advance Inflation, Germany, April 2026

In one line: Services flattered by plunge in package holiday inflation. 

EZ Datanote: State CPIs, Germany, April 2026

In one line: Temporary relief from plunge in package holiday inflation. 

April 2026- EZ Economic Chartbook

THE EUROZONE IS SLIPPING BACK INTO STAGFLATION…

  • …THE ECB WILL FOCUS ON INFLATION WITH TWO RATE HIKES THIS YEAR

1 May 2026 Eurozone Monitor ECB will hike in June, barring a miracle in global energy markets

  • The ECB held fire but clearly hinted at a rate hike in June, unless a miracle happens in the Middle East.
  • Inflation in the EZ hit 3.0% in April and is on track for 3.5% in May, with the 2026 average at 3.0%.
  • EZ GDP growth slowed in Q1, on the eve of the energy shock, and growth will stay subdued in Q2.

30 April 2026 Eurozone Monitor We now see only a modest increase in EZ inflation in April

  • We now see a relatively small rise in Eurozone HICP inflation in April, by 0.1pp, to 2.7%. 
  • Energy inflation climbed further in the EZ, but the core fell due to a temporary slide in services inflation. 
  • EC selling price expectations rose across the board in April, and recession probability remained low. 

29 April 2026 Eurozone Monitor ECB surveys paint a perfect, yet ominous, picture of EZ stagflation

  • ECB consumer inflation expectations jumped in March, to 3%, on a three-year basis.
  • The ECB’s bank lending survey points to tightening credit standards and weakening loan demand.
  • Markets are still pricing the path for the ECB, based on inflation, inflation expectations and the oil price.

24 April 2026 Eurozone Monitor Stagflation is back in the Eurozone; how will the ECB respond?

  • A plunge in services PMIs warns that the growth in EZ consumers’ spending is now grinding to a halt.
  • We cut our Q2 EZ GDP growth forecasts further, by 0.1pp to 0.1%, due to weakness in Germany.
  • We still think the ECB will respond to the inflation shock by hiking, but markets are too hawkish.

23 April 2026 Eurozone Monitor EU's energy toolkit will help in the next energy shock, not this one

  • The EU allows national governments to subsidise energy costs for energy-intensive industries.
  • But it has not yet given member states permission to forcefully respond to the looming energy shock.
  • Efforts to reduce reliance on energy imports will help in the future, not so much during the current shock. 

22 April 2026 Eurozone Monitor Slowing imports will support EZ GDP growth this year

  • Import growth likely peaked in late 2025; a slowdown will support GDP growth in 2026.
  • The EZ nominal energy-import bill is now surging, but we think imports are falling in real terms.
  • Low gas inventories point to upside risk to the volume of gas imports and prices.

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independent macro research, Eurozone Document Vault, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence,