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Eurozone manufacturing will dominate the start of the week
At the start of the week, investors will focus their attention on the publication of the final reading of the European manufacturing PMIs for the month of June, with the preliminary reading showing a contraction in activity in the case of the Eurozone to 45.6 points (vs. 47.3 points in the final reading for May). Meanwhile, we will also learn the preliminary reading of the German CPI for June, in a context in which the leading European power showed an increase in prices in year-on-year terms of 2.4% last May (vs. 2.2% in April).
On Tuesday 2 July, attention will be focused on the implications of the ECB’s decisions on the preliminary reading of the CPI for June in the Eurozone, after its general inflation rate rose by 0.2pp to 2.6% year-on-year in May. In turn, we will learn about the evolution of unemployment in the Eurozone and registered unemployment here in Spain.
On Wednesday, the final reading of the composite PMI in the Eurozone for June will be published. Additionally, the evolution of the production price index in the Eurozone for the month of May will also be relevant.
For its part, on Thursday the 4th, we will know the factory orders in Germany for the month of May, which will allow us to have a better perspective of the situation of the German industry.
At the end of the week, Eurozone retail sales will be published, along with industrial output figures for Germany, France and Spain. In turn, the performance of the French trade balance for the month of May will also be known.
At the business level, the BBVA Shareholders’ Meeting will be held, among others.
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