The week will begin with the publication of the industrial price index (IPRI) for January in Spain. After registering the monthly variation of the index in December a drop of 0.3%, at the beginning of 2024 the disinflation process is expected to continue. An evolution that could anticipate a sustained path of moderation in inflation rates in the coming months, pending the evolution of tensions on services.
Next, on Tuesday, the GFK consumer confidence indicator in Germany will be published. In a context marked by the deterioration of the economic activity of the leading European power, household sentiment will remain at very low levels.
Likewise, on Wednesday, we will know the evolution of consumer confidence in the Eurozone. Although the last few months have been notably negative, with the indicator standing at -16.1 points in the last month, a slight improvement is expected to -15.6 points, driven by the stabilisation of inflation rates and resilience of the labour market.
The week will end with the publication of CPI data from Germany, France and Spain, and various indicators on economic activity. Specifically, we will know the evolution of retail sales in January and the unemployment rate in Germany, or the current account balance in Spain. Finally, we will know the Eurozone manufacturing PMI, which will likely continue below the expansion level (<50 points).
At the business level, the publication of results from Naturgy, Ferrovial, Endesa, Audax Aena, Indra, ACS, Prosegur and Atresmedia among others will stand out.
In the UK, news wise, the biggest name to make the headlines once again is likely to be Sarah Everard, rather, hopefully, than her murderer, as the first report from an independent inquiry is due to be published on Thursday, days before the third anniversary of her kidnapping.
Despite not taking part in a European investigation and takedown of a gang trafficking migrants across the Channel, the UK Government will still be making their claim that it is them trying to “stop the boats” as the High Court on Tuesday begins a three-day hearing which sees Portland Mayor Carralyn Parkes challenging the Home Office’s jurisdiction over the highly-controversial Bibby Stockholm asylum-seeker barge, as Parkes wants the local authority to have control under local planning laws, thus giving the residents a say in the matter.
Globally, whilst attention once again turned to Ukraine this weekend, all eyes will to Moscow on Thursday as Vladimir Putin makes his annual address to Russian lawmakers, which will be the last time he does so before he winds the elections next month.
At the International Court of Justice in the Hague, hearings conclude on Monday in proceedings over the UN’s request for an advisory opinion on the consequences of Israel’s occupation of Palestinian territories, and Monday marks the deadline for Israel to report back to the court on compliance with its ruling as part of South Africa’s case accusing Israel of genocide in Gaza.
In Spain, Andalucia Day is celebrated this week, so there will be celebrations, not only in the south of the country, but in many places where the influence of Andalusian culture thrives.
March is upon us, which leads us to a focus towards women when it comes to commemorative days, but before that, one notable day this week is Tuesday, when the world celebrates International Polar Bear Day, where we can marvel at their beauty and splendour, albeit tinged with a hint of necessary brutality at times, but perhaps more importantly pay heed to the fact their world is melting beneath their feet, an indicator of the damage being done to the planet by the supposedly most responsible and intelligent beings, us humans.
