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Financial News: European Economics Preview: Eurozone Flash PMI Data Due

European Economics Preview: Eurozone Flash PMI Data Due

08/21/2020 - 00:35:00 (RTTNews)

(RTTNews) - Flash Purchasing Managers' survey data from euro area and retail sales from the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector finance data. Retail sales are forecast to grow at a moderate pace of 2 percent on a monthly basis, following a 13.9 percent rise in June.

The UK budget deficit is forecast to narrow to GBP 29.3 billion in July from GBP 34.8 billion in June.

At 3.15 am ET, IHS Markit releases France's flash Purchasing Managers' survey data. The composite output index is forecast to fall marginally to 57.2 in August from 57.3 in July.

At 3.30 am ET, Germany's flash PMI data is due. Economists expect the composite index to drop to 55.0 in August from 55.3 a month ago.

At 4.00 am ET, flash PMI data is due from euro area. The composite index is expected to remain unchanged at 54.9 in August.

Half an hour later, IHS Markit is scheduled to publish UK composite PMI survey results. At 6.00 am ET, the Confederation of British Industry publishes UK Industrial Trends survey data for August. The order book balance is forecast to rise to -35 percent from -46 percent in July.

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