Cycle continues to deteriorate: weaker than expected IFO survey in Germany, weak recovery in China, slowdown in US
Renta 4: European markets open flat (Eurostoxx futures +0.3%, S&P futures +0.2%). In the background, promises of new stimulus measures in China by Prime Minister Li Qiang that could accelerate its economy in 2Q23 after the weakness shown by the latest data, although without any specifics. On the macroeconomic front, we highlight yesterday’s worse-than-expected deterioration in Germany’s IFO survey, weighed down by a weaker-than-expected opening of the Chinese economy, the…
