The Week Ahead – 20 May 2024

A couple of dates for your diary that might interest you, in the Valencia region, schools finish for summer on 21 June, which means about 5 weeks now until the summer holidays.

More locally, in Torrevieja, those affected by the closure of the “wibbly, wobbly” road between the CV-905 and Auditorium area should be excited by the fact there is now only 2 weeks left on the closure notice, although there´s no sign of the road being ready yet. Another thing to look out for however is that the work to connect the CV-905 with the new Lagoons Village urbanisation has now been marked out on the CV-905, so that main arterial road will soon be the scene of roadworks for the creation of the next new roundabout.

This week also sees a special day for recognising the importance of bees, and from my hometown of Manchester, the anniversary of the Manchester Arena bombing.

Monday 20 May 2024

The week starts in Spain with the publication of the spring Financial Stability report by the Bank of Spain.

There are lots of local holidays scattered around the country for this Monday, 32 to be exact, but some key areas are around Barcelona, and Tarragona, but it might be worth checking with your local authorities where you are.

Also in Spain, we will have figures on competition, and medical education.  

In the eurozone, industrial production for February and total reserve assets for March will be known.

The ECB releases the survey of monetary analysts for April, Eurostat publishes industrial production figures for February, and the informal meeting of Energy Ministers begins.

On the other side of the Atlantic, in the US, the main references will be retail sales for March and the manufacturing Empire for April.

On a business level, Goldman Sachs publishes its first quarter accounts, and back in Europe we can all prepare to hear all about the hardship Ryanair are suffering with their accounts being published.

Dominating the news in the UK will be the conclusion of the long-running infected blood inquiry, as the chair, Brian Langstaff, publishes his final report and recommendations.

Julian Assange could find out his future as the High Court looks set to rule on his final attempt to appeal his extradition to the US.

However, neither of those stories are likely to get as much coverage as the fact the King and Queen will be at the Chealsea Flower Show.

Talking of flowers, in a tentative link sort of way, Monday is also World Bee Day, helping to raise awareness about one of the most important insects on the planet. Sadly though, we still don’t hold caterpillars in as much high regard, some places in Spain taking action to irradicate them, despite the lack of realisation that caterpillars become butterflies and butterflies are as important as bees for pollinating none-food flora.

Tuesday 21 May 2024

Oviedo in Asturias celebrates a local holiday today, and nationally in Spain we will have active service sector statistics, and industrial figures published.

We will know the trade balance of the Eurozone in the month of March on Tuesday, after registering a surplus in February of €23.6 billion. At the same time, the current account balance for March will be published.

IMF publishes Article IV consultation on the UK economy, for which there might be a so-called “dead cat” story released to distract from the headlines, especially as Tuesday also sees the register of political donations released in the UK.

Generali Seguros publish their results on Tuesday, along with Macy’s, Kingfisher, Lowe’s Companies.

Wednesday 22 May 2024

A couple of local holidays on Wednesday in Spain, namely in areas of Pontevedra and Ourense.

Nationally, we will have figures on birthrates in Spain for March.

On Wednesday, business eyes will be on the United Kingdom, where several references will be announced, among which the CPI and the PPI for April stand out.

Also in the UK, Paula Vennells gives evidence at Horizon Inquiry, and the Public Sector finances report is published, as will UK house price index and private rental prices.

Coca Cola Europe hold a meeting to discuss their plans, and we will have results from Marks & Spencer in the UK, as well as Tarhet Corp and NVIDIA.

Thursday 23 May 2024

Merida in Badajoz celebrates a local holiday in Spain today.

In Spain, we will have hotel tourism figures for April, and service sector reports for March.

The preliminary May reading of the Eurozone Purchasing Managers’ Index (PMI) will be published on Thursday. It is expected that the composite leading indicator will manage to place the 4 main economies of the Eurozone in expansion territory for the first time in 12 months.

Plus, we will have the preliminary reading of consumer confidence from the European Commission after showing last April a slight improvement in economic sentiment to stand at -14.7 points.

The ongoing Covid-19 Inquiry might raise a few eyebrows again on Thursday as another key player in the actions and attitudes of Downing Street, Simon Case, gives evidence.

The Home Office is set to publish the Migrant Journey report, and we will have provisional stats on long-term international migration for 2023, both of which will prove that “the plan is working” from the mouths of some politicians, irrespective of the actual results.

Annual figures on abortions in England and Wales, annual stats on UK dwelling stock, quarterly NHS figures on bed availability and occupancy, and quarterly stats on young people not in education, employment or training (NEET) are all set to be published in the UK.

Ralph Lauren releases their latest collection, of accounts and results that is, along with Royal Mail Group, Nationwide, JD Sports Fashion, Tate & Lyle, and National Grid.

Thursday also marks the 7^th anniversary of the Manchester Arena bombing.

Friday 24 May 2024

Valdes in Asturias celebrates a local holiday today, as does Formentera del Segura.

Spain will see the Industrial Price Index published, and provisional commerce figures for March.

The week will end with the publication of Germany’s final Q1 GDP reading. Although the leading European power would have avoided a new quarter of contraction in economic activity, the European Commission has cut its growth forecasts in 2024 to 0.1%, confirming the uncertainties about the evolution of the growth of the leading European power facing the 2nd part of the year.

UK retail sales figures will also be published to end the week.

Mapfre pay dividends on Friday.