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

European Economic News Preview: Eurozone GDP Data Due

04/28/2023 - 01:26:00 (RTTNews)

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

At 1.30 am ET, France's statistical office Insee is scheduled to issue flash GDP data for the first quarter. The economy is forecast to grow 0.2 percent sequentially after rising 0.1 percent in the fourth quarter.

At 2.00 am ET, Destatis is set to publish Germany's import prices for March. Economists expect import prices to fall 3.6 percent annually after rising 2.8 percent in February.

In the meantime, Sweden's retail sales and household lending data is due. At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss retail sales for March.

At 2.45 am ET, flash consumer and producer price figures are due from France. Consumer price inflation is seen unchanged at 5.7 percent in April.

At 3.00 am ET, flash quarterly GDP and flash consumer prices are due from Spain. The economy is expected to expand 0.3 percent sequentially in the first quarter after rising 0.2 percent in the fourth quarter.

At 3.55 am ET, the Federal Labor Agency releases Germany's unemployment data. The jobless rate is seen unchanged at 5.6 percent in April.

At 4.00 am ET, Germany's flash GDP data is due. The largest euro area economy is forecast to expand 0.2 percent sequentially in the first quarter, in contrast to the 0.4 percent fall in the fourth quarter.

Also, flash GDP figures are due from Italy. The economy is forecast to grow 0.2 percent on quarter, reversing a 0.1 percent fall in the preceding period.

In the meantime, inflation figures from Poland and unemployment from Norway are due. At 5.00 am ET, Eurostat is set to issue euro area flash quarterly national accounts. Economists expect the currency bloc to grow 0.2 percent in the first quarter after staying flat in the prior period.

Half an hour later, Bank of Russia announces its monetary policy decision.

At 8.00 am ET, Destatis publishes Germany's flash consumer and harmonized consumer prices for April. Consumer price inflation is seen easing to 7.3 percent from 7.4 percent in March.

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