European Economic News Preview: Eurozone GDP Data Due
(RTTNews) - Flash quarterly national accounts from the euro area and other major economies are due on Wednesday, headlining a busy day for the European economic news.
At 1.30 am ET, France's statistical office INSEE publishes GDP and consumer spending data. The economy is forecast to grow 0.1 percent sequentially in the second quarter, the same rate of growth as seen in the first quarter.
At 2.00 am ET, Destatis publishes Germany's retail sales for June. Economists forecast sales to grow 0.5 percent month-on-month, in contrast to the 1.6 percent fall in May.
At 3.00 am ET, Spain's INE releases preliminary inflation figures for July. Consumer price inflation is seen at 2.3 percent, unchanged from June.
At 4.00 am ET, Germany's GDP data is due. The largest euro area economy is forecast to shrink 0.1 percent in the second quarter, in contrast to the 0.4 percent expansion seen in the first quarter.
In the meantime, Italy's statistical office ISTAT is scheduled to issue GDP data. Economists forecast GDP to grow 0.1 percent sequentially in the second quarter after rising 0.3 percent in the first quarter.
At 5.00 am ET, Eurostat publishes euro area flash GDP data for the second quarter. Economists expect the currency bloc to remain flat after expanding 0.6 percent in the first quarter.
Also, European Commission is slated to release euro area economic sentiment survey results at 5.00 am. The economic confidence index is seen at 94.5 in July, up from 94.0 in June.
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