European Economic News Preview: UK GDP & Foreign Trade Data Due
(RTTNews) - GDP and foreign trade from the UK and final inflation from France and Spain are due on Friday, headlining a busy day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and external trade figures. The British economy is expected to stagnate in July after rising 0.4 percent in June. The trade deficit is seen narrowing to GBP 21.6 billion from GBP 22.2 billion in June.
In the meantime, Destatis publishes Germany's final inflation figures. The statistical office is forecast to confirm that consumer price inflation rose to 2.2 percent in August from 2.0 percent in July.
At 2.45 am ET, France's statistical office INSEE is slated to release final inflation data for August. The flash estimate showed that consumer price inflation slowed marginally to 0.9 percent from 1.0 percent in July. At 3.00 am ET, final CPI and HICP data is due from Spain. The CPI inflation is seen at 2.7 percent in August, in line with flash estimate.
At 4.00 a, ET, quarterly unemployment data is due from Italy. The jobless rate is seen at 6.1 percent in the second quarter, unchanged from the first quarter.
At 6.30 am ET, Russia's central bank announces its monetary policy decision. The bank is likely to cut the interest rate sharply to 16.0 percent from 18.0 percent.
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