Pantheon Macroeconomics

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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 Weekly Monitor Claus Vistesen (Chief Eurozone Economist)

EZ Datanote: Flash PMIs, Germany, November 2025

In one line: Private sector activity growth slows but Q4 still set to be better than Q3.

17 November 2025 Eurozone Monitor Q3 EZ GDP increase confirmed; EZ-US trade surplus jumps

  • The paltry 0.2% increase in EZ GDP in Q3 was confirmed, with minimal new country data.
  • Trade figures suggest the drag from net trade in goods in Q2 disappeared in Q3…
  • …The main impetus was a jump in exports to the US, which is unlikely to last.

EZ Datanote: ZEW, Germany, November 2025

In one line: A minor dip; investor sentiment still signals a solid PMI.

EZ Datanote: Trade Balance, Germany, September 2025

In one line: Exports to the US rebounding; deficit with China widening.

10 November 2025 Eurozone Monitor Swiss GDP fell in Q3 and the economy is now likely in recession

  • Swiss GDP is likely to have fallen outright in Q3, as US trade tariffs were hiked and unemployment rose.
  • The ECB wage tracker implies EZ wage growth eased in Q3 and will slow further out to mid-2026.
  • The ECB is not about to end QT, like the Fed; we expect a continued steady run-off, for now.

October 2025 - EZ Economic Chartbook

HOPES OF A Q4 RATE CUT DRIFTING OUT OF REACH

  • …AS GROWTH AND INFLATION OVERSHOOT ECB EXPECTATIONS

EZ Datanote: Advance Inflation, EZ, October 2025

In one line: Only a washout in November can deliver an ECB rate cut now. 

EZ Datanote: Advance Inflation, France, October 2025

In one line: In line with our forecast; a coin toss between 2.1% and 2.2% on the EZ HICP.

EZ Datanote: ECB Press Conference, October 2025

In one line: Thin gruel, but a bit of clarity on the ECB’s ETS2 assumptions. 

EZ Datanote: Q3 GDP, State CPIs & Unemployment, Germany

In one line: Germany avoids recession, just; inflation down fractionally in October.

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Keywords for: Eurozone Documents

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