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

European Economic News Preview: German Unemployment Data Due

08/30/2024 - 01:57:00 (RTTNews)

(RTTNews) - Unemployment and retail sales from Germany and flash inflation from the euro area are due on Friday, headlining a hectic day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's import prices and retail sales data. Economists forecast import prices to rise 0.1 percent on month in July, following a 0.4 percent gain in June.

At 2.45 am ET, France's statistical office INSEE publishes flash inflation, revised GDP and consumer spending figures. Consumer price inflation is forecast to ease to 1.8 percent in August from 2.3 percent in July. The statistical office is expected to confirm economic growth at 0.3 percent in the second quarter.

At 3.00 am ET, Spain's INE releases retail sales data for July. Also, flash inflation from Austria and revised GDP from the Czech Republic are due.

At 3.55 am ET, the Federal Labor Agency publishes Germany unemployment data for August. The jobless rate is forecast to remain unchanged at 6.0 percent.

At 4.00 am ET, Italy's ISTAT is slated to issue unemployment data for July. The jobless rate is seen unchanged at 7.0 percent.

At 4.30 am ET, the Bank of England releases mortgage approvals for July. The number of mortgages approved in July is expected to rise to 61,000 from 59,980 in June. At 5.00 am ET, flash inflation and unemployment figures are due from the euro area. Inflation is expected to ease to 2.2 percent in August from 2.6 percent in July. Economists forecast the jobless rate to remain unchanged at 6.5 percent in July.

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