The Week Ahead – Monday 13 May 2024

The beginning of the week will stand out for the absence of relevant macroeconomic references, although the climate will be a focus, if anyone actually takes notice, but the week will explode with figures on Tuesday and Wednesday, before retreating for a quieter end to the week.

Monday 13 May 2024

Monday marks the anniversary of the forming of the Guardia Civil in Spain in 1844

Amongst the local holidays today we have Sabadell and Vallodolid.

Across Europe there will be a special traffic police focus on trucks and buses all week.

Statistically, there´s not a lot happening on Monday, but we will receive the Banking on Climate Chaos: 2024 report, along with the UN World Wildlife Crime report.

In the business world, we will see results from SoftBank Group, Almirall, Vocento, Ferrovial

Tuesday 14 May 2024

On Tuesday the 14th, we will know the final reading of the April inflation rate for Germany and Spain, after its first reading showed its stabilisation in the case of the German economy at 2.2% year-on-year and a rebound in its pace of growth up to 3.3% in Spain.

At the same time, the ZEW survey for May will be published, which is expected to continue reflecting the improvement in the expectations of German institutional investors.

The USA will publish the production price index (PPI) for April. After registering a rise of 2.1% year-on-year in March, the consensus of analysts estimates that the PPI in April will remain at similar levels, which could contribute to supporting the normalisation of the general inflation rate in the coming months.

UK unemployment figures and wage statistics are released on Tuesday, and having snubbed them when they needed support calling for wage increases over the extortionate bonuses of shareholders, now with an election looming Keir Starmer hosts meeting with trade unions on workers’ rights. For April, the unemployment rate increased by 0.3 pp to 4.2% of the active population.

We will also have a few global-interest reports today, such as the Global Report on Internal Displacement, the OECD Digital Economy Outlook, Monthly NOAA global climate report, and the OPEC monthly oil markets report.

Business results will be published by the likes of Sony, Alibaba, Bayer AG, Tencent Holdings, Vodafone Group, Flutter, Porsche, Veolia, Currys, Bayer, and Home Depot.

Wednesday 15 May 2024

There are lots of local holidays being celebrated around Spain on Wednesday, amongst them are Madrid and Estepona in Malaga, and in the Alicante area, Cox and San Isidro, the town named after the saint celebrating his day today.

May 15 is San Isidro Labrador Day, the day which culminates celebrations in various places, including the capital, Madrid, where festivals dedicated to a 12th century farmer have become a patron saint’s holiday in which everyone completely immerse themselves in the essence of Madrid of yesteryear.

Across the Eurozone, we will have various relevant macroeconomic references published, among which is the second reading of the Q1 GDP and industrial production in March, highlighting the final CPI data for France and Italy and the evolution of the labour market.

Whilst the playground antics of the supposed adults of the house take to their weekly name-calling in PMQ´s in the UK, the more serious annual foodbank figures from Trussell Trust will be published, along with the stats on UK’s carbon footprint to 2021.

We will also have business results from the likes of Allianz, Burberry, TUI, Greggs, Experian, Cisco, Imperial Tobacco Group, Compass Group, Britvic, and Ubisoft.

Thursday 16 May 2024

On Thursday the 16th we will know the data on construction licences and homes started in April.

Likewise, references on US industrial production in April will be published (in March it fell 0.3 monthly) and the Fed’s Philadelphia Survey, which will contribute to obtaining a more reliable image of the current situation in the manufacturing sector.

Thursday also sees the report on the most common names and surnames in Spain.

We will also have the UN World Economic Situation and Prospects: mid-year update, and for the UK, the annual stats on accommodation in secure children’s homes, and fraud and error in the benefit system.

RAJAR listening figures are also published showcases how many people are listening to radio.

Results from Siemens, Deutsche Telecom, BT, easyJet, United Utilities, and Walmart

Friday 17 May 2024

In addition to the special traffic police focus on buses and trucks this week, Friday marks the starts of a special operation around Galicia.

There are quite a few local holidays today, most notably in Lugo, Pontevedra, and A Coruña.

Tourism figures are released in Spain on Friday, paying attention to tourist apartments, which will no doubt fuel the arguments raging in some areas where residents and locals are continually being forced out to make way for more lucrative tourist properties.

Friday also sees domestic violence figures released in Spain.

To end the week, the focus of investors will be on the final data for April on the inflation rate in the Eurozone.

Results from Merlin Properties and Iberdrola.