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Financial News: European Economics Preview: Eurozone Final Factory PMI Dat

European Economics Preview: Eurozone Final Factory PMI Data Due

02/01/2021 - 00:14:00 (RTTNews)

(RTTNews) - Factory Purchasing Managers' survey and unemployment reports are due from euro area on Monday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's retail sales data for December. Economists forecast sales to fall 2.6 percent on month, in contrast to a 1.9 percent rise in November.

At 3.00 am ET, PMI survey results are due from Poland, the Netherlands and Hungary.

At 3.30 am ET, Statistics Sweden is scheduled to release GDP data for the fourth quarter. The economy is forecast to shrink 2.3 percent annually, following a 2.5 percent drop in the third quarter.

At 3.45 am ET, Italy's manufacturing PMI data is due. The factory PMI is expected to fall to 52.4 in January from 52.8 in December.

Thereafter, final PMI figures are due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit publishes euro area final manufacturing PMI report for January. According to flash estimate, the factory PMI fell to 54.7 from 55.2 a month ago.

In the meantime, Istat releases Italy's unemployment data for December. Economists expect the jobless rate to fall to 8.8 percent from 8.9 percent in November. Half an hour later, UK CIPS/Markit final factory PMI and mortgage approvals figures are due. The number of mortgages approved in December is seen rising to 105,000 from 104,970 in the previous month.

At 5.00 am ET, Eurostat is set to release euro area unemployment data for December. Economists forecast the rate to remain unchanged at 8.3 percent.

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