Financial News: European Economic News Preview: Eurozone Inflation Data Du

European Economic News Preview: Eurozone Inflation Data Due

05/31/2024 - 01:39:00 (RTTNews)

(RTTNews) - Flash inflation from the euro area and mortgage approvals from the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to release Germany's retail sales and import prices for April. Retail sales are forecast to fall 0.1 percent on month, in contrast to the 1.8 percent rise in March.

In the meantime, UK Nationwide house price data is due. House prices are forecast to climb 0.1 percent on month in May, following a 0.4 percent fall in April.

At 2.30 am ET, retail sales from Switzerland and producer prices from Hungary are due.

At 2.45 am ET, France's statistical office INSEE publishes flash inflation, revised GDP, household consumption and producer price data. Consumer price inflation is expected to climb to 2.4 percent in May from 2.2 percent in April. The preliminary estimate earlier showed that the French economy grew 0.2 percent in the first quarter. The statistical office is expected to confirm the estimate. At 3.00 am ET, the Czech Statistical Office is set to issue revised GDP data for the first quarter.

At 4.00 am ET, Italy's statistical office INSEE publishes revised GDP data for the first quarter. According to the initial estimate, GDP growth advanced to 0.3 percent from 0.1 percent.

At 4.30 am ET, the Bank of England releases mortgage approvals data for April. The number of mortgages approved in April totalled 61,500 compared to 61,330 in March.

At 5.00 am ET, Eurostat is slated to issue flash inflation data for May. Inflation is expected to rise slightly to 2.5 percent from 2.4 percent in April.

Also, flash inflation figures are due from Italy.

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