In recent developments within the Spanish economy, a preliminary advance of 0.4% is projected for the second quarter, with an annual growth forecast ranging between 2.2% and 2.6% for 2023. This expected growth underscores a steady recovery and resilience post-pandemic, though fiscal pressures continue to rise. The government’s decision to hike the minimum wage will see nearly half of the increase absorbed by taxes, with single and married individuals without children expected to pay over 300 euros more in income tax. This tax adjustment is projected to generate more than 1,000 million euros for public finances, indicating a shift in fiscal policy that could impact disposable income and consumer spending. Meanwhile, Mercadona’s significant adjustments in the economic sector are actively influencing electronic purchases, perhaps signaling shifts in consumer behavior and retail strategy that may further impact economic dynamics in Spain.
The Brent opened with virtually no change, at a price of 76.18 dollars per barrel. The gold opened the session with virtually no change, at a price of 2914.4 dollars per ounce. Now, regarding equity, the EURO STOXX 50 started the session with virtually no change, at 5401.47 points. The DAX 30 started the session with virtually no change, in 22092.38 points, the FTSE 100 started the session with virtually no change, at 8782.25 points, and the EURONEXT 100 started the session with virtually no change, at 1572.16 points.
Close to market opening, the following macroeconomic indicators for Europe were published: the Industrial Production of Italy in December (-3.1%). Throughout the day the following indicators will be published: the CPI (YoY) of Portugal in January., the Core CPI (YoY) of Portugal in January., the CPI (YoY) of USA in January., the Core CPI (YoY) of USA in January.
The IBEX opened with virtually no change, at 12848.6 points. The best performers at the beginning of the day have been GRIFOLS (+3.041 %), SACYR (+1.855 %) and MELIÁ HOTELS with a change of (+1.48 %) on its values respectively. The worst performers at the beginning of the day have been MAPFRE (-1.137 %), LOGISTA (-0.963 %) and SOLARIA with a change of (-0.782 %) on its values respectively.