Headlines of the day by EFE Economia for Tuesday, March 12, 2024

Spain GDP

MADRID – The Bank of Spain publishes an update of its macroeconomic forecasts for the Spanish economy for the period 2024-2026, in December it cut GDP growth to 1.6% for the year and average inflation to 3.3%.

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Holy Week Tourism

Madrid – The Spanish Confederation of Hotels and Tourist Accommodations (CEHAT) presents data on the evolution of its activity and its prospects for Easter, although this year falls in March, record figures are expected.



Mercadona results

Paterna (Valencia) – Mercadona's president, Juan Roic, presents the company's economic results for the 2023 financial year, 718 million euros after the previous year, up 5% and sales up 11% to 31,041 million, mainly due to inflation. .

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European Union funding

BRUSSELS – Ministers of Economy and Finance of the European Union (Ecofin) are examining progress in the implementation of the rescue fund and the economic consequences of Russia's war against Ukraine.

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US inflation

WASHINGTON – The US will release February inflation, which will be taken into account at the Federal Reserve's monetary policy meeting next week, after falling three-tenths to 3.1% in January.

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– Germany also publishes its February inflation.


Argentina Inflation

Argentina releases the Consumer Price Index (CPI) for February after the inflation rate reached 254.2% in January.

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– Brazil publishes its inflation rate for February, up from 4.51% in January.

Information agenda

9:00 am- Madrid.- DEOLEO COMPANIES.- Ignacio Silva, President and CEO of Deoleo, shares his strategy in the olive oil industry at a global level in the new day of “Esade Breakfasts” organized by Esade Alumni.

9:30 am- Madrid.- Rail transport.- Executive Forum organizes an informative breakfast with Raül Blanco, President of Renfe. Westin Palace Hotel in Madrid (Plaza de los Cortes, 7).

10:00h.- Madrid.- Tourism Holy Week.- The Spanish Confederation of Hotels and Tourist Accommodations (CEHAT) and the consulting firm PwC present the new version of the 'Smart Observatory' in a press conference. The industrial hotel industry in Spain, which represents the evolution of the sector and the prospects for Easter and spring 2024. Hotel Orfila (C/ Orfila, 6) (Text)

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10:00 am- Madrid.- RATO CASE.- The trial for the origin of the fortune of former Vice President of the Government Rodrigo Rato Provincial Court, c/ Santiago de Compostela s/n continues in the Madrid Provincial Court.

10:30 am- Madrid.- DECATHLON STRATEGY.- Decathlon, with the CEO of the group Barbara Martin and the CEO for Spain, Borja Sánchez, reveals its plans for the countries where it is present. C/ Salvador de Madariaga s/n in San Sebastián de los Reyes (Madrid).

10:30 a.m.- Madrid.- Paper Industry.- The Spanish Association of Pulp, Paper and Cardboard Manufacturers (Aspapel) celebrates the annual meeting of the Paper Industry 2024, where some of the main issues for the sector in Spain will be analyzed, in energy, environment, recycling and forest management. including trends in, which will be attended by Ignacio de la Torre, Chief Economist, Partner and Consultant at Arcano Partners; Eduardo Querol, President of ASPAPEL, and Manuel Domínguez, General Director of ASPAPEL. Downtown Space. Paloma Street Noº15.

10:45h.- Spanish Debt.- The General Treasury auctions three- and nine-month bills.

11:00 am- Madrid.- Bus transport.- The Spanish Bus Transport Confederation (Confebus) presents the report “Towards a sustainable model of sustainable public-private cooperation in public transport”, prepared by Confebus in collaboration with Eversheds Sutherland and KPMG. , and they try to raise awareness about the importance of the contract renewal process for passenger transport. Crystal Tower (Pº de la Castellana, 259 C)

11:00 am- Barcelona.- MOURE RESULTS.- The Moure Group, which includes Elefante Azul, Autonetoil, Petronet and Washnet Factory, presents results for 2023 and forecasts for 2024. zoom in (text)

11:15 am- Vitoria.- Public sector.- About 150,0000 workers in the Basque public sector have been called to strike, demanding negotiations in Euskadi to improve salaries and employment in the sector without “imposition or vetoes”. Madrid”, a demonstration in Bilbao at 11:30 and earlier statements by unions. (text) (photo)

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11:30 am- Madrid.- Bank Wages.- Meeting of the Savings Sector Contract Schedule created by the former Savings Banks.

2:00 PM- Madrid.- Spain GDP.- The Bank of Spain publishes an update of its macroeconomic forecasts for the Spanish economy. (Text)

16:00h.- Madrid.- Automobile Industry.- The GPERB asks the Senate Government in the control session if the Ministry of Industry and Tourism plans to promote measures to support the transformation of the automotive industry.

16:00h.- Madrid.- KOLDO CASE.- The GPP asks the Senate government in the control session about the reasons for the appointment by the government of Koldo García Izaguirre as consultant to Renfe Mercancias and member of the governing board of state ports. (Question 5.2).

16:00h.- Madrid.- KOLDO CASE.- The GPP Senate asks the government in the control session if the Minister of Transport and Sustainable Mobility considers it in response to the scandal related to the acquisition of masks in his ministry. It is sufficient to conduct two audits of two public institutions under its jurisdiction.

Madrid.- PROSEGUR OPA.- The deadline for accepting the takeover offer presented by Helena Revoredo, the controlling shareholder for 15% of Prosegur, has expired.

Madrid.- Agricultural Strawberries.- Madrid- The Association of Small Farmers of Andalusia (UPA) and UPA-Huelva will distribute 2,000 tubs of strawberries from the province of Huelva in Puerta del Sol, Madrid this Tuesday. I eat strawberries from Hulva because they are healthy, safe and sustainable.



5:00 am- Berlin.- Germany strike.- Lufthansa cabin crew strike at Frankfurt Airport.

8:00 am- London.- R.UNITED UNEMPLOYMENT.- The Office for National Statistics (ONS) releases the British unemployment rate for February. (Text)

8:00 am- Frankfurt.- PORSHHE RESULTS.- German sports car manufacturer Porsche, a brand of the Volkswagen Group, presents its financial results for 2023. (text) At 12:00 p.m., company executives appeared in a press conference

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10:30 am- Copenhagen.- Lego Results.- Lego presents its financial results for 2023.

11:30 am- Frankfurt.- GERMANY DEBT.- Germany puts up 2-year debt for 4.5 billion euros (Text)

13:00h.- Berlin.- Inflation in Germany.- Germany's Federal Statistical Office, Testatis, publishes the final data on the inflation rate for February. (text)

Brussels.- EU FINANCE.- The Ministers of Economy and Finance of the European Union (Ecofin) will meet, among other points on the agenda, to assess progress in the implementation of the rescue fund and analyze the economic consequences of the war against Russia Ukraine.

Brussels.- EU EMPLOYMENT.- Meeting of Ministers of Employment and Social Affairs of the European Union. (Text) (Photo) (Video)

Berlin.- Germany Strike.- Railway drivers strike in passenger transport called by GDL trade union over dispute with Deutsche Bahn. (Text) (Photo) (Video)

Rome.- General results.- The Italian insurance company Generali publishes its financial results for 2023, approved by the Board of Directors.

Vienna.- OPEC REPORT.- The Organization of the Petroleum Exporting Countries (OPEC) today publishes its monthly report on the state of the oil market. (text)


13:00h.- Rio de Janeiro.- BRAZIL Agriculture.- The Brazilian government publishes its new plan for the 2024 agricultural harvest. (text)

1:00pm- Rio de Janeiro.- Brazil Inflation.- The government releases Brazil's inflation rate for February. (text)

1:30 PM- Washington.- US Inflation.- The Bureau of Labor Statistics (BLS) releases US inflation data for February.

Mexico City.- MEXICO INDUSTRY.- Mexico's National Institute of Statistics releases industrial production for January after a 3.5% increase in 2023.



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