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Financial News: European Economic News Preview: Germany GDP Data Due

European Economic News Preview: Germany GDP Data Due

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

(RTTNews) - The annual GDP data from Germany and industrial production from the euro area are the top economic news due on Monday.

At 2.00 am ET, Destatis is scheduled to issue Germany's wholesale prices for December. Wholesale prices are forecast to rise 0.2 percent on a monthly basis, offsetting a 0.2 percent drop in November.

At 4.00 am ET, Germany's annual GDP data is due. The economy is forecast to shrink 0.3 percent in 2023, in contrast to the 1.9 percent expansion in 2022.

In the meantime, foreign trade figures are due from Italy. The trade surplus is forecast to rise to EUR 5.2 billion in November from EUR 4.7 billion in October.

At 5.00 am ET, Eurostat publishes euro area industrial production for November. Economists expect industrial output to drop 0.3 percent on month, following a 0.7 percent decrease in October.

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