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

European Economic News Preview: UK Unemployment Data Due

05/16/2023 - 00:31:00 (RTTNews)

(RTTNews) - Unemployment from the UK and economic sentiment from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK labor market data for March. The jobless rate is seen unchanged at 3.8 percent. Average earnings including bonus is forecast to grow 5.8 percent in three months to March.

At 3.30 am ET, Statistics Netherlands publishes flash GDP data for the first quarter. The economy is expected to stagnate after rising 0.6 percent in the prior quarter.

At 4.00 am ET, Italy's statistical office Istat releases final inflation figures for April. The flash estimate showed that consumer price inflation rose to 8.3 percent from 7.6 percent in March.

In the meantime, flash GDP data is due from Poland. GDP is forecast to expand 0.7 percent sequentially in the first quarter, reversing a 2.4 percent fall in the fourth quarter.

At 5.00 am ET, Germany's ZEW economic sentiment survey results are due. The economic confidence index is seen falling to -5.3 in May from +4.1 in April.

Also, Eurostat is set to issue euro area revised GDP data for the first quarter. Economists expect the statistical office to confirm the 0.1 percent quarterly growth and 1.3 percent annual expansion.

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