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

European Economic News Preview: UK GDP Data Due

03/10/2023 - 00:05:00 (RTTNews)

(RTTNews) - Monthly gross domestic product, industrial production and foreign trade from the UK and consumer prices from Germany are the top economic news due on Friday.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK GDP, foreign trade and industrial production data.

The UK economy is forecast to grow 0.1 percent on month in January, in contrast to the 0.5 percent fall in December. The visible trade deficit is seen at GBP 17.7 billion in January compared to a shortfall of GBP 19.3 billion in the prior month.

In the meantime, final consumer and harmonized prices are due from Germany. The flash estimate showed that consumer price inflation held steady at 8.7 percent in February. Also, consumer and producer prices are due from Statistics Norway. Economists forecast consumer price inflation to ease to 6.8 percent in February from 7.0 percent in January.

At 2.45 am ET, foreign trade and current account figures are due from France.

At 3.00 am ET, Spain's INE releases retail sales data for January. Sales had decreased 1.7 percent on month in December.

In the meantime, consumer prices, industrial and construction output reports are due from the Czech Republic. Economists forecast inflation to ease to 16.6 percent in February from 17.5 percent in January.

At 4.00 am ET, Italy's Istat releases producer prices for January. Prices had increased 31.7 percent annually in December.

At 5.00 am ET, foreign trade and industrial production figures are due from Greece.

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