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Financial News: European Economic News Preview: Eurozone Final Composite P

European Economic News Preview: Eurozone Final Composite PMI Data Due

06/05/2024 - 01:15:00 (RTTNews)

(RTTNews) - Final composite Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Wednesday.

At 2.45 am ET, France's statistical office INSEE is scheduled to issue industrial production data for April. Output is expected to grow 0.5 percent on month, in contrast to the 0.3 percent decrease in March. At 3.15 am ET, S&P Global publishes Spain's services PMI data. Economists forecast the index to climb to 56.5 in May from 56.2 in the previous month.

At 3.45 am ET, services PMI survey results are due from Italy. The services index is seen at 54.4 in May, up from 54.3 in the previous month.

At 3.50 am ET, France's final composite PMI survey data is due. Economists expect the index to drop to 49.1 in May from 50.5 in April.

At 3.55 am ET, S&P Global is slated to issue Germany's final composite PMI survey results. The composite reading is expected to rise to 52.2 in May, as initially estimated, from 50.6 in April.

At 4.00 am ET, Eurozone final composite PMI survey data is due. The composite index is seen at 52.3 in May, unchanged from flash estimate, and up from 51.7 in April.

At 4.30 am ET, S&P Global publishes UK final composite PMI data. Economists expect the services PMI to fall to 52.9 in May, as initially estimated, from 55.0 in April.

At 5.00 am ET, Eurostat is slated to release euro area producer prices for April. Producer prices are forecast to fall 5.1 percent on a yearly basis after declining 7.8 percent in March.

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