Alicia García Herrero (Natixis) | On 13 January, Taiwan showed the world the vibrant nature of its democracy. Over 70% of people turned out to vote for the next President of Taiwan and the country’s legislative body, the Yuan. Lai Ching-te, leader of the liberal Democratic Progressive Party (DPP), won the presidential election. However, his party which was in government for eight years, did not secure enough votes to control…
The Bank of Spain (BdE) reported yesterday that the debt of Spanish public administrations as a whole increased by 0.2% in November compared to October, to €1.58 trillion. In year-on-year terms, debt increased by 4.6% in November, equivalent to €68.751 billion. In November, central government debt amounted to €1.41 trillion, an increase in the month of 0.35%. In addition, the debt of the autonomous communities grew by 0.26% to €324,456…
BancaMarch: Members of the ECB Council expect the new inflation projections published next March to be revised downwards. The current December forecasts foresee 2.7% in 2024 and 2.1% in 2025, without breaching the 2% red line until 2026 with expected inflation of 1.9%. However, the ECB indicates that these data could be more favourable, reaching the target level as early as 2025. While this is good news, the monetary authority…
Bankinter : China: poor growth and adverse demographics – GDP 4Q 2023 was 5.2% rather than the 5.3% expected and the 4.9% previous. Retail Sales in December were up 7.4% against the 8.0% expected while Industrial Production was up 6.8% against the 6.6% expected and previous. Analysis: GDP over 2023 has been +5.2%., which is slightly below market expectations, although above the government’s formal target of +5.0%. The weakest indicators…
Renta 4 | Passenger traffic figures for 2023 have shown an excellent performance, mainly in the last quarter of the year, when they have comfortably exceeded the figures reached before the pandemic. The rest of the year the figures were slightly above 2019 (the exception was June where they were slightly below the pre-pandemic traffic). Overall, there was a growth of +16.2% compared to 2022, reaching a 2.9% higher traffic…
Link Securities | Prosegur (PSG) said Monday in a press release that it reported 10% growth in 2023 in its surveillance and technology business, Prosegur Securit, according to Europa Press. The firm has celebrated the first anniversary of its Intelligent Security Operations Centre (iSOC) in Madrid, consolidating its commitment to the hybrid security model, which has been key to exceeding the 10% growth of its Prosegur Security division. Specifically, the…
“I have not left the party’s positions. They call me a dinosaur and they are right, but that allows me to say that, when I speak of the future, I do not speak of my own”… “Amnesty is intolerable, I say that as a member of an organisation that built the Constitution”… “If my party changes, I am not obliged to change. I think the same as the PSOE leadership…
Banca March: Yesterday confirmed the entry into recession of the German economy in 2023. Germany’s GDP fell by 0.3% for the year as a whole, after +1.8% in 2022, hurt by high inflation, rising interest rates and high energy costs. We highlight the negative performance of industry, down 2%, despite the positive contribution of the automotive sector and the manufacture of other transport equipment. There was also minimal growth in…
Norbolsa | The Red Sea crisis continues to affect the automotive supply chain. Michelin was one of the first suppliers to be affected by the lack of rubber, while more recently Volvo, Tesla and Geely have also been hit by shortages. Meanwhile, Stellantis said it is using air transport to cope with temporary supply disruptions, while Volkswagen announced that it does not expect “significant” restrictions on production. Visibility remains limited,…
Registered unemployment fell by 27,375 in December to a total of 2.7 million, the lowest figure since 2007. But the question on many people’s minds is: what would have happened if this figure had not excluded the out-of-work seasonal “fixed discontinuous” workers who register with a public employment service? They are not classified as unemployed, but as job seekers with an employment relationship, a category that in the last month…