Financial News: European Economic News Preview: UK Public Sector Finance,

European Economic News Preview: UK Public Sector Finance, Retail Sales Data Due

07/19/2024 - 00:42:00 (RTTNews)

(RTTNews) - Public sector finance and retail sales reports from the UK and current account from the euro area are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK public sector net borrowing and retail sales figures. The budget deficit is expected to fall to GBP 10.8 billion in June from GBP 14.1 billion in May. Economists forecast retail sales to drop 0.6 percent on month in June, in contrast to the 2.9 percent increase in the prior month.

Also, producer price data is due from Germany. Economists expect producer prices to fall 1.6 percent on a yearly basis after easing 2.2 percent in May.

At 4.00 am ET, the European Central Bank publishes euro area current account figures for May. The current account surplus is expected to decrease to EUR 34.6 billion from EUR 38.6 billion in the prior month.

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