EZ Datanote: Retail Sales, Germany, July 2025

In one line: Hinting at a fall in Q3. 

EZ Datanote: ESI, Eurozone, August 2025

In one line: Unwelcome rise in services selling price expectations.

EZ Datanote: EZ Money Supply & ISTAT, Jul/Aug 2025

In one line: Steady, and solid, growth in EZ money supply.

EZ Datanote: Detailed GDP, Switzerland, Q2

In one line: Stung by crash in net trade. 

August 2025 - EZ Economic Chartbook

EZ ECONOMY SLOWS AS TARIFF HIKES START TO BITE…

• …BUT OUR CALL FOR A SEPTEMBER RATE CUT IS NOW ON LIFE SUPPORT

29 August 2025 Eurozone Monitor August HICP is the last chance saloon for ECB doves

• The acceleration in money supply growth has faded, but it still signals solid underlying GDP growth.
• Surveyed EC selling price expectations rose in services but fell further in food.
• The Swiss economy came down to Earth in Q2 amid wild swings in net trade and inventories.

EZ Datanote: GfK Consumer Confidence, Germany, September

In one line: Not pretty.

28 August 2025 Eurozone Monitor Watch core inflation in France and Spain in a busy end to the week

• GfK consumer confidence in Germany sank in September, but income expectations still look fine.
• All eyes on core inflation in France and Spain for signs of a downside surprise for the EZ print. 
• Unemployment in Germany likely rose in August, but the IAB survey points to better times ahead.