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Financial News: European Economics Preview: UK Services PMI Data Due

European Economics Preview: UK Services PMI Data Due

06/04/2019 - 23:38:00 (RTTNews)

(RTTNews) - Purchasing Managers' survey data from the UK and major euro area economies are due on Wednesday, headlining a busy day for the European economic news. At 3.00 am ET, retail sales figures are due from the Czech Republic and Hungary. The Czech retail sales are forecast to grow 3.7 percent annually in April, following March's 2.7 percent increase. Hungary's sales growth is seen at 6.3 percent on year in April.

At 3.15 am ET, Spain's services PMI report is due. Economists forecast the index to fall to 52.6 in May from 53.1 in April.

At 3.45 am ET, IHS Markit releases Italy's composite PMI. The index is expected to fall to 49.3 in May from 49.5 a month ago.

Thereafter, final PMI results are due from France and Germany. France's composite PMI is seen at 51.3 in May, in line with flash estimate. Likewise, Germany's composite PMI at 52.4, the same as initially estimated.

At 4.00 am ET, IHS Markit publishes euro area composite PMI survey results. Economists forecast the index to match the flash score of 51.6 in May.

At 4.30 am ET, UK IHS Markit/CIPS services PMI data is due. The index is forecast to rise moderately to 50.6 in May from 50.4 in April.

At 5.00 am ET, Eurostat is slated to release euro area retail sales and producer price figures. Economists forecast sales to remain flat on month in April. Producer price inflation is seen at 3.1 percent in April versus 2.9 percent in March.

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