Financial News: European Economic News Preview: Eurozone Final PMI Data

European Economic News Preview: Eurozone Final PMI Data Due

03/03/2023 - 01:32:00 (RTTNews)

(RTTNews) - Final composite Purchasing Managers' survey results from the euro area and other major Eurozone economies as well as foreign trade from Germany are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's foreign trade data. Exports are forecast to rebound 1.5 percent on month and imports to gain 2.0 percent in January.

At 2.45 am ET, France's statistical office INSEE is set to release industrial production for January. Economists forecast output to gain 0.1 percent on month, slower than the 1.1 percent increase a month ago. At 3.15 am ET, Spain's services Purchasing Managers' survey results are due. The services PMI is seen rising to 54.3 in February from 52.7 in January.

At 3.45 am ET, Italy's PMI data is due. Economists forecast the services index to advance to 53.1 from 51.2 in January.

At 3.50 am ET, France's final composite PMI survey results are due. The score is forecast to match the flash estimate of 51.6 in February, up from 49.1 in the prior month.

At 3.55 am ET, Germany's final PMI data is due. The composite index is seen at 51.1 in February, in line with flash estimate.

At 4.00 am ET, S&P Global publishes euro area final PMI survey data. The composite index is forecast to rise to 52.3, as estimated, from 50.3 in the prior month.

In the meantime, Italy GDP data for the fourth quarter is due.

At 4.30 am ET, UK S&P Global/CIPS final services PMI data is due. Economists forecast the index to drop to 53.3 in February from 48.7 in January.

At 5.00 am ET, Eurostat is set to publish euro area producer prices for January. Producer price inflation is seen at 17.7 percent versus 24.6 percent in December.

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