Financial News: European Economic News Preview: UK Chancellor To Present

European Economic News Preview: UK Chancellor To Present Spring Budget

03/15/2023 - 02:45:00 (RTTNews)

(RTTNews) - UK Chancellor of the Exchequer Jeremy Hunt is set to deliver the Spring Budget 2023 on the parliament on Wednesday.

Hunt is set to outline the tax and spending plans of the government for the year ahead. The announcement is due at 8.30 am ET.

Other major economic reports due for the day are final inflation from France and industrial production from the euro area.

At 3.00 am ET, Destatis is scheduled to issue Germany's wholesale prices for February. Prices had increased 10.6 percent annually in January.

In the meantime, foreign trade from Norway and consumer prices from Sweden are due. Sweden's consumer price inflation is forecast to remain unchanged at 11.7 percent in February.

At 3.45 am ET, France's statistical office INSEE releases final consumer and harmonized prices for February. The initial estimate showed that consumer price inflation rose to 6.2 percent from 6.0 percent in January.

At 4.00 am ET, the Czech Statistical Office is scheduled to issue producer prices for February. Producer price inflation is seen easing to 16.9 percent from 19.0 percent in January.

At 6.00 am ET, Eurostat publishes euro area industrial production for January. Economists expect output to grow 0.4 percent on month, in contrast to the 1.1 percent decrease in December.

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