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Financial News: European Economic News Preview: German Unemployment Data D

European Economic News Preview: German Unemployment Data Due

06/28/2024 - 00:03:00 (RTTNews)

(RTTNews) - Unemployment from Germany and flash inflation from France, Spain and Italy are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's unemployment and import price figures. Economists forecast import prices to fall at a slower pace of 0.3 percent annually in May after a 1.7 percent fall in April.

In the meantime, the Office for National Statistics is set to issue UK revised GDP data. The ONS is set to confirm 0.6 percent sequential growth for the first quarter.

Also, household consumption and retail sales from Norway and foreign trade and retail turnover from Sweden are due.

At 2.45 am ET, France's statistical office INSEE releases flash consumer prices, consumer spending and producer prices data. Harmonized inflation is forecast to ease to 2.5 percent in June from 2.6 percent in May. Economists forecast household spending to gain 0.1 percent on month in May.

At 3.00 am ET, flash inflation from Spain and revised GDP data from the Czech Republic are due.

At 3.55 am ET, the Federal Labor Agency is scheduled to publish German unemployment data for June. The jobless rate is seen unchanged at 5.9 percent and the number of people out of work is forecast to increase by 15,000 from May.

At 4.00 am ET, industrial sales from Italy, unemployment from Norway and flash inflation from Poland are due.

At 5.00 am ET, Italy's statistical office ISTAT releases preliminary inflation data for June. EU harmonized inflation is expected to rise to 0.9 percent from 0.8 percent in May.

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