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European Economic News Preview: UK GDP, Foreign Trade Data Due
(RTTNews) - Monthly GDP and foreign trade from the UK and final inflation from France are due on Friday, 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 data. Economists forecast the economy to grow 0.1 percent on a monthly basis in May, in contrast to the 0.3 percent fall in April.
UK industrial output is expected to fall 0.1 percent following a 0.6 percent drop in the previous month. The visible trade deficit is seen narrowing to GBP 21.1 billion in May from GBP 23.2 billion in April.
In the meantime, Germany's statistical office Destatis publishes wholesale prices for June. Wholesale prices are forecast to grow 0.2 percent month-on-month, in contrast to the 0.3 percent drop a month ago.
At 2.45 am ET, France's statistical office INSEE is slated to release final inflation data for June. According to flash estimate, consumer price inflation rose to 0.9 percent from 0.7 percent in the previous month.
At 3.00 am ET, retail sales data is due from Turkey.
At 8.00 am ET, the National Institute of Economic and Social Research releases UK monthly GDP tracker.
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