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Financial News: European Economics Preview: Germany Business Confidence, G

European Economics Preview: Germany Business Confidence, GDP Data Due

08/25/2022 - 01:07:00 (RTTNews)

(RTTNews) - Business confidence survey results and detailed quarterly national accounts from Germany are the major economic reports due on Thursday.

At 2.00 am ET, Destatis is slated to publish Germany's GDP data for the second quarter. According to flash estimate, the largest euro area economy had stagnated after expanding 0.8 percent in the first quarter.

At 2.45 am ET, France's Insee publishes business sentiment survey results for August. The business confidence index is seen at 104 versus 106 in July.

At 3.00 am ET, producer price data from Spain, manufacturing sentiment from Turkey and unemployment figures from Hungary are due.

At 4.00 am ET, Germany's Ifo business confidence survey data is due. Economists forecast the business climate index to drop to 86.8 in August from 88.6 in the previous month.

At 6.00 am ET, the Confederation of British Industry publishes Distributive Trades Survey results. The retail sales balance is seen at -7 in August versus -4 in July. At 7.30 am ET, the European Central Bank is scheduled to release the account of the monetary policy meeting of the Governing Council held on July 20 and 21.

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