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Financial News: European Economic News Preview: Germany Foreign Trade Data

European Economic News Preview: Germany Foreign Trade Data Due

02/05/2024 - 00:18:00 (RTTNews)

(RTTNews) - Foreign trade from Germany and investor confidence from the euro area are the top economic news due on Monday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's foreign trade data for December. The trade surplus is forecast to fall to EUR 19.8 billion from EUR 20.4 billion in November.

At 3.15 am ET, Spain's services PMI survey data is due. Economists expect the index to rise to 52.2 in January from 51.5 in the previous month. At 3.45 am ET, Italy's HCOB services PMI data is due. The services index is expected to rise to 50.7 in January from 49.8 in December.

Final composite PMI survey results are due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 4.00 am ET, S&P Global publishes euro area final composite PMI survey results. The final composite reading is seen at 47.9 in January, in line with flash estimate.

At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. Economists forecast the investor sentiment index to rise to -15.0 in February from -15.8 in January.

In the meantime, UK S&P/CIPS final services PMI survey data is due. The index is forecast to rise to 53.8 in January from 53.4 a month ago.

At 5.00 am ET, Eurostat publishes euro area producer prices for December. Economists forecast producer prices to drop 10.5 percent on a yearly basis after easing 8.8 percent in November.

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