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Financial News: European Economics Preview: German Retail Sales, UK Nation

European Economics Preview: German Retail Sales, UK Nationwide House Prices Due

09/02/2020 - 01:35:00 (RTTNews)

(RTTNews) - German retail sales data and the monthly house price survey results from the UK are the main news on a light day for economic data in Europe.

The Federal Statistical Office or Destatis is set to release Germany's retail sales data for July at 02:00 am ET.

Economists are looking for a monthly gain of 0.5 percent after a 1.6 percent decline in June. Sales grew 5.9 percent year-on-year in June.

Elsewhere at 02:00 AM ET, the UK Nationwide Building Society is set to release the results of its latest monthly survey of house prices for August.

Consensus is for a 2 percent year-on-year gain and a 0.5 percent increase from July.

House prices grew 1.5 percent year-on-year in July after a 0.1 percent decline in June. Prices rose 1.7 percent month-on-month, which was the first such increase in three months.

Norway's second quarter current account data and producer price data from Romania is also due at 02:00 AM ET.

At 03:00 AM ET, Spain's unemployment data for August is due from the labor ministry. In July, joblessness declined by 89,800 persons.

Hungary's statistical office is scheduled to release producer prices data for July at 03:00 AM ET.

Eurostat is set to release the euro area producer prices data for July at 05:00 AM ET. Economists have forecast a 3.4 percent annual decline and a 0.5 percent monthly gain.

In June, the pace of annual decline in Eurozone producer prices slowed to 3.7 percent, while prices grew 0.7 percent from the previous month, marking the first increase in five months.

In other news due for the day, Bank of England policymakers Ben Broadbent and Andy Haldane are set to speak at 10:30 AM ET and 11:30 AM ET, respectively.

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