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European Economic News Preview: Eurozone Foreign Trade Data Due
(RTTNews) - Foreign trade from the euro area is the top economic news due on Friday, headlining a light day for the European economic news.
At 2.00 am ET, Destatis is scheduled to issue Germany's wholesale prices for June. Economists forecast wholesale prices to drop 1.2 percent annually after a 2.6 percent decrease in May.
In the meantime, consumer prices from Sweden and foreign trade data from Norway are due. Sweden's inflation is expected to slow to 9.1 percent in June from 9.7 percent in May.
Half an hour later, the Federal Statistical Office releases Swiss producer and import prices for June. Producer and import prices are forecast to fall 1.2 percent annually after easing 0.3 percent in May.
At 4.00 am ET, external trade data is due from Italy. The trade surplus is expected to rise to EUR 1.45 billion in May from EUR 0.3 billion in April.
At 5.00 am ET, Eurostat is scheduled to issue euro area foreign trade data for May. The trade deficit is seen at EUR 7.6 billion compared to a EUR 11.7 billion shortfall a month ago.
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