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European Economic News Preview: Eurozone Flash GDP, Inflation Data Due
(RTTNews) - Flash inflation and quarterly national accounts from the euro area and mortgage approvals from the UK are due on Monday, headlining a busy day for the European economic news.
At 2.00 am ET, Germany's statistical office Destatis is scheduled to issue retail sales and import prices for June. Economists forecast retail sales to fall 2.7 percent annually after a 3.6 percent drop in May.
At 3.00 am ET, consumer prices from Austria and GDP data from the Czech Republic are due. The Czech economy is forecast to grow 0.2 percent sequentially in the second quarter after staying flat in the first quarter.
At 4.00 am ET, Italy's statistical office ISTAT releases flash GDP data for the second quarter. Economists expect GDP to remain flat after expanding 0.6 percent in the first quarter.
Half an hour later, the Bank of England publishes UK mortgage approvals for June. The number of mortgage approvals is seen at 49,000 in June, down from 50,524 in May. At 5.00 am ET, Eurostat publishes euro area flash GDP and inflation data. The currency bloc is expected to grow 0.2 percent on quarter in the second quarter after staying flat a quarter ago. Inflation is forecast to slow to 5.3 percent in July from 5.5 percent in June.
In the meantime, flash inflation figures are due from Italy.
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