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

European Economic News Preview: UK GDP Data Due

03/13/2024 - 01:42:00 (RTTNews)

(RTTNews) - GDP and foreign trade from the UK and industrial production from the euro area are the top economic news due on Wednesday.

At 3.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade reports. GDP is forecast to grow 0.2 percent on month in January, in contrast to the 0.1 percent fall in December.

The UK visible trade deficit is seen widening to GBP 15 billion from GBP 13.9 billion in the previous month. Economists forecast industrial output to remain flat on month in January after rising 0.6 percent in the previous month.

In the meantime, Destatis is slated to issue Germany's wholesale price data for February.

At 3.30 am ET, final industrial production data is due from Hungary. At 6.00 am ET, Eurostat publishes euro area industrial production for January. Economists expect output to fall 1.5 percent on month, reversing 2.6 percent rise in December.

At 8.00 am ET, the National Institute of Economic and Social Research releases UK monthly GDP tracker.

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