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

European Economic News Preview: UK GDP Data Due

08/15/2024 - 01:10:00 (RTTNews)

(RTTNews) - Gross domestic product data from the UK is the major economic report due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is scheduled to publish UK GDP data for the second quarter and industrial output and foreign trade figures for June. The economy is expected to grow 0.6 percent sequentially after rising 0.7 percent in the prior quarter.

The UK visible trade deficit is expected to narrow to GBP 16 billion in June from GBP 17.9 billion in May. Economists forecast industrial output to grow 0.1 percent on month, following a 0.2 percent in May.

At 2.30 am ET, producer and import prices are due from Switzerland. Economists forecast producer and import prices to fall 1.7 percent on year, after easing 1.9 percent in June.

At 4.00 am ET, Norway's central bank announces its monetary policy decision. The bank is widely expected to hold the benchmark rate at 4.5 percent.

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

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