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Financial News: European Economics Preview: Germany's Factory Orders Data

European Economics Preview: Germany's Factory Orders Data Due

06/07/2018 - 01:25:00 (RTTNews)

(RTTNews) - Factory orders from Germany and revised quarterly national accounts from euro area are due on Thursday, headlining a busy day for the European economic news.

At 1.45 am ET, the State Secretariat for Economic Affairs releases Swiss unemployment data for May. The jobless rate is forecast to drop to 2.6 percent from 2.7 percent in April.

At 2.00 am ET, Germany's factory orders data is due. Orders are forecast to grow 0.8 percent on month in April, reversing a 0.9 percent drop in March.

In the meantime, industrial output data from Norway and GDP from Romania are due.

At 2.45 am ET, foreign trade data is due from France. The trade deficit is forecast to widen to EUR 5.1 billion in April from EUR 3.84 billion in March.

At 3.30 am ET, UK Halifax house price data is due. Economists forecast house prices to rise 1 percent on month in May, reversing a 3.1 percent drop in April.

At 4.00 am ET, retail sales data from Italy is due. Sales are expected to rise 0.1 percent on month in April, in contrast to a 0.2 percent drop in March.

At 5.00 am ET, Eurostat releases euro area GDP data for the first quarter. The statistical office is set to confirm 0.4 percent sequential growth in the first quarter.

In the meantime, Greece unemployment data is due for March. The rate stood at 20.8 percent in February.

At 7.00 am ET, Turkey's central bank is set to announce its interest rate decision. The bank is expected to hold the repo rate at 16.50 percent but to raise the overnight borrowing rate to 15.25 percent from 15.00 percent.

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