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Financial News: European Economics Preview: Eurozone GDP Data Due

European Economics Preview: Eurozone GDP Data Due

05/02/2018 - 01:34:00 (RTTNews)

(RTTNews) - Quarterly national accounts, unemployment and final factory Purchasing Managers' survey results from euro area are due on Wednesday, headlining a busy day for the European economic news.

At 1.45 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss consumer sentiment survey results. The indicator is expected to drop to 4 in February from 5 a quarter ago.

At 3.15 am ET, retail sales from Switzerland and factory PMI from Spain are due. Spain's manufacturing PMI is forecast to drop to 54.1 in April from 54.8 in March.

At 3.30 am ET, factory PMI is due from Switzerland. Economists forecast the indicator to drop to 59.8 in April from 60.3 in March.

At 3.45 am ET, IHS Markit is scheduled to issue Italy's manufacturing PMI. The index is seen falling to 54.5 in April from 55.1 in March.

Thereafter, final PMI figures are due from France and Germany.

At 4.00 am ET, IHS Markit releases Eurozone factory PMI data. The PMI score is expected to match the flash estimate of 56 in April.

In the meantime, Italy's unemployment data is due. The jobless rate is expected to remain unchanged at 10.9 percent in March.

At 4.30 am ET, the UK Markit/CIPS construction PMI is due. The index is forecast to rise to 50.5 in April from 47 in March.

At 5.00 am ET, Eurostat is set to publish euro area GDP data for the first quarter and unemployment for March. The economy is forecast to grow 0.4 percent on quarter, slower than the 0.6 percent expansion seen in the fourth quarter. The jobless rate is forecast to remain unchanged at 8.5 percent in March.

In the meantime, Italy's GDP data is due. The economy is forecast to grow 0.3 percent on quarter in the first quarter.

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