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European Economic News Preview: UK GDP Data Due
(RTTNews) - GDP monthly estimates and foreign trade from the UK and final inflation from Germany are due on Thursday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. Economists forecast the economy to grow 0.2 percent on month in November, in contrast to the 0.1 percent fall in October.
In the meantime, Destatis releases Germany's final inflation data. The statistical office is expected to confirm consumer price inflation at 2.6 percent in December, up from 2.2 percent in November.
At 4.00 am ET, Italy's statistical office ISTAT publishes final consumer prices for December. Inflation is seen at 1.3 percent in December, unchanged from the flash estimate.
At 5.00 am ET, Eurostat is slated to issue euro area foreign trade data. The trade surplus is forecast to rise to EUR 11.8 billion in November from EUR 6.8 billion in October.
Also, foreign trade data is due from Italy. The trade surplus is expected to decline to EUR 4.5 billion in November from EUR 5.15 billion in October.
At 6.00 am ET, inflation data is due from Ireland. Economists forecast harmonized inflation to double to 1.0 percent in December from 0.5 percent in November.
At 7.30 am ET, the European Central Bank is scheduled to issue the account of the monetary policy meeting of the Governing Council held on December 11 and 12.
At 8.00 am ET, the monetary policy announcement is due from Poland. The central bank is likely to hold the benchmark rate at 5.75 percent.
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