Financial News: European Economic News Preview: German Inflation, Consumer

European Economic News Preview: German Inflation, Consumer Confidence Data Due

05/29/2024 - 01:50:00 (RTTNews)

(RTTNews) - Flash inflation and consumer confidence from Germany and monetary aggregates from the euro area are the top economic news due on Wednesday.

At 2.00 am ET, the market research group Gfk is scheduled to issue Germany's consumer confidence survey results. The confidence index is forecast to improve to -22.5 in June from -24.2 in May.

At 2.45 am ET, France's statistical office INSEE releases consumer sentiment survey data. Economists expect the consumer sentiment index to climb to 91 in May from 90 in the previous month.

At 3.00 am ET, Spain's INE is scheduled to release retail sales for April. Sales had increased 0.6 percent annually in March.

At 4.00 am ET, the European Central Bank is set to release euro area monetary aggregates for April. Economists expect M3 money supply to grow 1.3 percent on year, faster than the 0.9 percent rise in March.

In the meantime, Italy's business and consumer sentiment survey results are due. Also, flash inflation data is due from Poland.

At 8.00 am ET, Germany's statistical office is slated to release flash consumer and harmonized prices for May. Consumer price inflation is expected to accelerate to 2.4 percent from 2.2 percent in April. EU harmonized inflation is seen at 2.7 percent, up from 2.4 percent in the previous month.

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