European Economic News Preview: Spain GDP Flash, Eurozone Lending Data In Focus

RTTNews | 962 days ago

(RTTNews) - Preliminary estimates for the fourth quarter growth of the Spanish economy and lending data for the euro area are the key data releases on the closing day of this trading week.

Spain's statistical office INE is set to release the flash estimates for the fourth quarter and full year gross domestic product at 03:00 AM ET on Friday. The economy is forecast to grow 0.1 percent in quarterly comparison, repeating a similar modest growth seen in the previous three months. The year-on-year growth figure is expected to fall sharply to 2.2 percent from 4.4 percent. An hour later, the European Central Bank will be out with the December M3 money supply and lending data for Eurozone banks. The monthly release is expected to show that the money supply annual growth slowed to 4.6 percent from 4.8 percent. The year-on-year growth in loans to businesses is forecast to rise to 8.6 percent from 8.4 percent in the previous month.

At 5:30 AM ET, ECB President Christine Lagarde is set to speak on the occasion of the official unveiling of the new memorial plaque on the International Holocaust Remembrance Day in Frankfurt.

Elsewhere, the French statistical office INSEE is scheduled to release the consumer confidence survey data for January at 02:45 AM ET. Consumer sentiment in France is widely expected to have risen slightly at the start of the new year to 83 from 82. Industrial sales figures for December are due from Italy's statistical office ISTAT at 04:00 AM ET.

Several other European countries would be releasing statistical data on Friday, which includes unemployment data and retail sales, among others. Finland and Hungary are set to publish the labor market figures for December. The host of countries releasing retail sales for December include Lithuania, Norway, Sweden, Slovenia, Ireland and Latvia.

Jobless figures and household lending data are also due from Statistics Sweden. In other news, S&P Global is set to release the results of the January purchasing managers' survey for Austria. The PMI score was in the contraction territory at 47.3 in December.

Bulgaria's central bank is set to announce its latest interest rate decision at 05:00 AM ET. The key interest rate is currently at 0.59 percent. December bank lending data from Greece is expected at 06:00 AM ET.

Tags: EUR

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