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Financial News: European Economics Preview: Eurozone Retail Sales, Final P

European Economics Preview: Eurozone Retail Sales, Final PMI Data Due

08/03/2018 - 01:05:00 (RTTNews)

(RTTNews) - Retail sales and final services Purchasing Managers' survey from euro area are due on Friday, headlining a busy data for the European economic news.

At 3.00 am ET, retail sales from Hungary and consumer prices from Turkey are due. Turkey's inflation is forecast to rise further to 16.3 percent in July from 15.4 percent in June.

At 3.15 am ET, the Federal Statistical Office releases Swiss consumer price data for July. Inflation is expected to rise slightly to 1.2 percent from 1.1 percent in June.

Also, Spain's services Purchasing Managers' Index is due. The services PMI is seen falling to 54.4 in July from 55.4 in June.

At 3.45 am ET, services PMI is due from Italy. Economists forecast the index to drop to 53.7 in July from 54.3 in June.

Thereafter, final PMI figures are due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit releases final PMI data for euro area. The composite PMI is seen at 54.3 in July, unchanged from flash estimate.

In the meantime, Italy's industrial output and retail sales reports are due. Production is forecast to rise 0.4 percent on month in June, slower than the 0.7 percent rise in May. Likewise, retail sales growth is expected to ease to 0.1 percent from 0.8 percent in May.

At 4.30 am ET, UK CIPS/Markit services PMI is due. Economists forecast the index to drop to 54.7 in July from 55.1 in June.

Half an hour later, Eurozone retail sales data is due. Sales are forecast to grow 0.4 percent on month in June after staying flat in May.

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