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Financial News: European Economics Preview: Eurozone Unemployment, Factory

European Economics Preview: Eurozone Unemployment, Factory PMI Data Due

08/01/2022 - 01:39:00 (RTTNews)

(RTTNews) - Unemployment and final manufacturing Purchasing Managers' survey results from euro area and retail sales from Germany are due on Monday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany retail sales data for June. Economists forecast sales to rise 0.2 percent on month, following the 0.6 percent increase in May.

At 3.00 am ET, Purchasing Managers' survey results from Poland, Turkey and Hungary are due.

At 3.15 am ET, S&P Global releases Spain manufacturing PMI data. The index is forecast to fall 50.2 in July from 52.6 in the prior month.

At 3.45 am ET, Italy factory PMI survey results are due. Economists forecast the index to fall to 49.1 in July from 50.9 in June.

Thereafter, manufacturing PMI survey results are due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, Eurozone S&P Global manufacturing PMI data is due. The score is seen at a 25-month low of 49.6 in July, in line with flash estimate, but down from 52.1 in June.

In the meantime, Italy's Istat publishes unemployment data for June. Economists forecast the jobless rate to remain unchanged at 8.1 percent. Half an hour later, UK S&P/CIPS final manufacturing PMI survey results are due. The index is forecast to fall to 52.2 in July, in line with flash estimate, from 52.8 in June.

At 5.00 am ET, Eurostat is scheduled to issue euro area unemployment data for June. The jobless rate is seen unchanged at 6.6 percent.

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