A Roller Coaster of a Week

This week is both a bit of a downplay and will no doubt be electric when we consider that in Spain we have two national holidays, Wednesday and Friday, with some businesses taking a bridging day on Thursday, and others taking the whole week of, whereas things will be sparking in the UK with the appearance of Boris Johnson at the Covid enquiry.

None the less, in Spain, the week begins with some of the most important figures, the publication of the unemployment and Social Security affiliation figures for November. We will also get to find out how generous tourist have been as the surveys of spending and tourist movements for October will also be released by the INE (Institute of National Statistics), and, sticking with the money side of things, the Financial Stability Magazine of the Bank of Spain is published.

In the Eurozone, the week will begin with the publication of Germany’s trade balance for October, which will show the degree of dynamism of the German foreign sector in a context marked by the deterioration of global demand. At the same time, we will know the Sentix index of investor confidence in the Eurozone, which is expected to register a slight improvement.

The week will continue with industrial production data from Spain and France and the Eurozone producer price index. Some indicators that investors will take as a reference to evaluate the dynamism of economic activity and the evolution of the disinflation process in the region. Likewise, we will also know the data on retail sales.

On Thursday, investors’ attention will focus on the release of the Q3 GDP and unemployment rate. No relevant changes are expected with respect to the preliminary reading, which showed a slight quarterly growth of 0.1% in production.

In the UK, Boris Johnson appears before the Covid enquiry on both Wednesday and Thursday. Although nobody truly knows what he will say, commentators are utterly divided with half the camp expecting nothing more than more lies and bluster, and the other side believing he will apologise. The truth most likely being a combination of both, although the apology not being either heartfelt of truthful, mixed in with blaming everybody but himself, the person in charge.

From the panel, they will no doubt focus on the illegal parties, and follow up on what Chief Scientific Adviser, Sir Patrick Vallance, wrote in his diary, that Johnson agreed that Covid was ‘nature’s way of dealing with old people’ and that the former prime minister was ‘bamboozled’ and ‘confused’ by the science during the pandemic.

If you’re in the UK or visiting this week, there are a number of strikes and industrial actions affecting the transport sector, so check your journey before you travel.

Back in Spain, the DGT and Guardia Civil, assisted by Local Police in some areas, will be concentrating their efforts on school buses this week, ensuring that documentation, vehicle standards, and drivers, are all compliant. School buses have different rules to normal buses, including their maximum permitted speed, so this too will be monitored.

The TIME magazine Person of the Year is revealed on Wednesday, and the Nobel prize ceremonies are held later in the week.

Other notable dates this week include Tuesday, which marks 10 years since Nelson Mandela died, and Sunday is Human Rights Day, this year marking 75 years since the UN Declaration of Human Rights.