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Financial News: European Economic News Preview: Eurozone Flash GDP Data

European Economic News Preview: Eurozone Flash GDP Data Due

01/30/2024 - 01:21:00 (RTTNews)

(RTTNews) - Flash quarterly national accounts data from the euro area and major European economies are due on Tuesday, headlining a hectic day for the European economic news.

At 1.30 am ET, France's statistical office INSEE publishes preliminary GDP data for the fourth quarter. The economy is forecast to stagnate after falling 0.1 percent in the third quarter.

At 3.00 am ET, Spain's INE releases flash GDP and inflation figures. Economists forecast GDP growth to slow to 0.2 percent in the fourth quarter from 0.3 percent in the third quarter. Consumer price inflation is forecast to remain unchanged at 3.1 percent in January.

At 4.00 am ET, flash GDP data is due from Italy. Economic growth is expected to remain flat on quarter following a 0.1 percent rise in the third quarter.

In the meantime, fourth quarter GDP data is due from Germany. The largest euro area economy is forecast to shrink 0.3 percent, faster than the 0.1 percent drop in the preceding period.

At 4.30 am ET, the Bank of England publishes mortgage approvals data for December. The number of approvals is likely to rise to 52,500 from 50,070 in November. At 5.00 am ET, flash GDP and monthly economic sentiment survey results are due. Economists forecast GDP to fall 0.1 percent sequentially in the fourth quarter, the same pace of decline as seen in the third quarter.

The euro area economic confidence index is seen at 96.2 in January, down from 96.4 in the previous month.

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