Financial News: European Economic News Preview: Germany GDP, Inflation Dat

European Economic News Preview: Germany GDP, Inflation Data Due

10/30/2023 - 00:07:00 (RTTNews)

(RTTNews) - Quarterly national accounts and flash inflation from the euro area are the top economic news due on Monday, headlining a busy day for the European economic news.

At 3.00 am ET, Statistics Sweden publishes flash GDP data for the third quarter. The economy is forecast to rebound 0.4 percent sequentially following a 0.8 percent fall in the second quarter.

At 4.00 am ET, flash GDP from Austria and preliminary inflation from Spain are due. Spain's consumer price inflation is seen rising to 3.8 percent in October from 3.5 percent in September.

At 5.00 am ET, Destatis is scheduled to release Germany's GDP data for the third quarter. The largest euro area economy is seen shrinking 0.3 percent on quarter after staying flat in the second quarter.

Half an hour later, the Bank of England issues money and credit data for September. The number of mortgages approved in September is forecast to fall to 45,000 from 45,350 in the preceding period.

At 6.00 am ET, European Commission is set to release euro area economic sentiment survey results. Economists forecast the economic confidence index to drop to 93.0 in October from 93.3 in September.

At 9.00 am ET, preliminary inflation data is due from Germany. Consumer price inflation is forecast to ease to 4.0 percent in October from 4.5 percent in September.

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