European Economics Preview: UK Inflation Data Due
(RTTNews) - Consumer and producer prices from the UK and quarterly national accounts from the euro area are due on Wednesday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for July. Consumer price inflation is seen at 9.8 percent in July, up from 9.4 percent in June. Factory gate inflation is forecast to ease to 16.2 percent from 16.5 percent in June.
At 3.00 am ET, GDP data from Hungary is due. The economy is forecast to expand 6.1 percent on year in the second quarter versus 8.2 percent growth a quarter ago.
Half an hour later, consumer spending, foreign trade and GDP figures are due.
At 4.00 am ET, Poland's GDP data is due. The economist forecast the economy to shrink 0.8 percent sequentially, reversing the first quarter's 2.5 percent expansion. At 5.00 am ET, Eurostat publishes euro area flash GDP and employment data for the second quarter. Economists expect the currency bloc to grow 0.7 percent, as initially estimated.
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