European Economic News Preview: Germany Inflation & Retail Sales Data Due
(RTTNews) - Flash inflation and retail sales from Germany and revised GDP and mortgage approvals from the UK are due on Monday, headlining a hectic day for the European economic news.
At 2.00 am ET, Destatis publishes Germany's import prices and retail sales figures. Retail sales are forecast to grow 0.5 percent month-on-month in May, in contrast to the 1.1 percent fall in April.
In the meantime, final GDP and business investment figures are due from the UK. The initial estimate showed that the economy grew 0.7 percent in the first quarter, following a 0.1 percent rise in the fourth quarter.
At 3.00 am ET, Swiss KOF leading indicator is due. The index is seen at 99.3 in June, down from 98.5 in the previous month.
At 4.00 am ET, the European Central Bank is scheduled to release euro area money supply data. Economists forecast M3 to grow 4.0 percent year-on-year in May, following a 3.9 percent rise in April.
At 4.30 am ET, the Bank of England releases mortgage approvals for May. The number of mortgage approvals is forecast to rise to 61,000 from 60,460 in the prior month.
At 5.00 am ET, Italy's statistical office ISTAT is scheduled to publish flash inflation figures.
At 8.00 am ET, Destatis publishes Germany's flash consumer and harmonized prices for June. In May consumer price inflation steadied at 2.1 percent.
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