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Chinese New Year – The Week Ahead

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The week begins with the publication of December data on the trade balance in Germany, in a context in which the main European economy is being weakened by the global logistics crisis and sluggish domestic demand.

Subsequently, we will know the data on the purchasing managers index (PMI) of the services sector in the Eurozone. The United Kingdom PMI will also be published, which, unlike the Eurozone, was in expansionary territory in the last month. At the same time, the Sentix Index and PPI of the Eurozone will be published that same day, together forming a good x-ray of the global development of the economy of the European continent.

On Tuesday the 6th, we will know the evolution of factory orders in Germany and retail sales in the Eurozone.

Wednesday, we will know the data on industrial production in Germany, which will likely continue to show the deterioration of the sector. In addition, data on industrial production in Spain and retail sales in Italy will be published.

Finally, Friday will close with the publication of the CPI in Germany and industrial production in Italy.

At the business level, the publication of results from Logista, Unicaja, UBS, NH, Amundi, Carlsberg, Siemens, Astrazeneca, Crédit Agricole, Société Générale, L’Oreal, among others, will stand out. Likewise, together with the payment of dividends from ACS and Grupo Catalana Occidente, in the global stage, the publication of results from McDonald’s, Ford, Uber, Fox, PayPal, Walt Disney, Phillip Morris and PepsiCo, among others, will stand out.

In the UK, Chancellor Jeremy Hunt is set to release an evaluation of its economic outlook on Monday. The update to November’s gloomy forecast, which predicted meagre growth in the UK for the next two years and warned of persistently high inflation, is unlikely to make for pleasant reading in the Treasury given the OECD’s recent assessments of the UK’s economic prospects, added to which is the economic stress of the next stage in Brexit.

The OECD report is followed on Wednesday by the latest quarterly review from the respected NIESR think tank, which offered a similarly bleak outlook for the UK economy in November.

Jeremy Hunt is busy again on Tuesday answering Treasury questions in the House of Commons, the same day that Michael Gove is at the Lords committee session on levelling up, and Liz Truss is back in the limelight at the Popular Conservatism launch event, all before the House of Commons rises for constituency recess on Thursday.

Almost finally, on Saturday it´s Chinese New Year, marking the Year of the Dragon. the fifth of the 12-year cycle of animals which appear in the Chinese zodiac. The Year of the Dragon is associated with the Earthly Branch symbol pronounced chen.

And finally, Sunday is the 11th of February, or 11-2 in numerical terms, which is the annual day dedicated across Europe to those who service in the emergency services, who help, guide and respond instantly when we dial those numbers on our telephones, 112, because the 11th of February is the Europe-wide recognition of 112 day.

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