European Economics Preview: Eurozone GDP, Inflation Data Due

By | January 31, 2020
European Economics Preview: Eurozone GDP, Inflation Data Due

Quarterly national accounts and flash inflation from euro area are due on Friday, headlining a busy day for the European economic news.

At 1.30 am ET, France’s Insee releases preliminary GDP data. Gross domestic product is expected to grow 0.2 percent on quarter in the final three months of 2019, slower than the 0.3 percent expansion logged in the third quarter.

At 2.00 am ET, Destatis is slated to release Germany’s retail sales for December. Sales are forecast to drop 0.5 percent on month, reversing a 2.1 percent rise in January.

At 2.45 am ET, France flash inflation, producer prices and household spending figures are due. Inflation is seen unchanged at 1.4 percent in January. Economists forecast consumer spending to remain flat on month in December.

At 3.00 am ET, preliminary inflation and GDP from Spain and foreign trade and average gross wages from Hungary are due. Spain GDP is forecast to grow 0.4 percent in the fourth quarter. Inflation is seen at 0.9 percent in January versus 0.8 percent in December.

At 4.30 am ET, the Bank of England releases mortgage approvals data. The number of mortgages approved in December is forecast to rise to 65,600 from 65,000 in November.

At 5.00 am ET, Eurostat publishes preliminary flash GDP and inflation data. The currency bloc is forecast to grow 0.2 percent sequentially in the fourth quarter, the same pace as seen in the third quarter.

Eurozone inflation is expected to rise marginally to 1.4 percent in January from 1.3 percent in December.

In the meantime, Italy’s preliminary GDP data is due. The economy is forecast to grow at a steady pace of 0.1 percent in the fourth quarter.