Financial News: European Economic News Preview: Eurozone Flash GDP, Inflat

European Economic News Preview: Eurozone Flash GDP, Inflation Due

10/31/2023 - 00:35:00 (RTTNews)

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

At 2.30 am ET, France's statistical office INSEE publishes GDP and consumer spending data. GDP is forecast to grow 0.1 percent sequentially after an expansion of 0.5 percent in the second quarter. Consumer spending is expected to expand 0.4 percent in September, in contrast to the 0.5 percent fall in August.

At 3.00 am ET, retail sales and import prices are due from Germany. Retail sales are expected to grow 0.5 percent, reversing a 1.2 percent drop in August. Economists forecast import prices to fall sharply by 15.3 percent on year in September, but slower than August's 16.4 percent decline.

At 3.45 am ET, France's statistical office INSEE releases flash inflation figures for October. Economists expect inflation to slow to 4.0 percent in October from 4.9 percent in September.

At 5.00 am ET, Italy's ISTAT is slated to issue preliminary GDP data. The economy is expected to grow 0.1 percent sequentially in the third quarter, in contrast to the 0.4 percent contraction in the second quarter.

At 6.00 am ET, Eurostat releases euro area consumer prices and flash GDP data. Economists forecast the currency bloc to log a nil growth in the third quarter after expanding 0.1 percent in the preceding period. Inflation is seen easing to 3.1 percent in October from 4.3 percent in September.

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