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November 2016| No. 406DossierIndustry 4.0Content available in catalan spanish Print Download File Editorial The future of industry Enric Fernández Key points of the month A situation of calm and good figures for the final part of the year Forecasts and indicators ForecastsKey indicators financial marketsKey indicators international economyKey indicators European UnionKey indicators Spanish economy Financial markets Economic outlook Interest rates and inflation expectations on the rise, stock markets on hold Focus Stock markets in the emerging countries: the turn of domestic factors Focus The IMF’s keys to global financial stability in the medium term International economy Economic outlook The emerging countries are driving the global economy in the second half of 2016 Focus Emerging debt: a weak flank given the Fed’s monetary normalisation Focus China’s financial system: a giant with feet of clay? European economy Economic outlook Slow but steady progress in the euro area Focus Labour markets in the euro area after the crisis: a reality-check Focus Fiscal adjustment in the periphery: a job half done Spanish economy Economic outlook Economic growth is gradually maturing Focus Job quality: Spain within the international context Focus Demand for housing: uneven growth Anna Campos Focus Tourism, an exceptional year? DossierIndustry 4.0 Focus Industry as the crux of transformation: past, present and future Carlos Martínez Sarnago Focus Industry is dead! Long live industry! Adrià Morron Salmeron Focus The new industrial policy: challenges and opportunities Javier García Arenas Focus The future of industry in Spain Josep Mestres Domènech