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Financial News: European Economics Preview: Germany GDP, Unemployment Data

European Economics Preview: Germany GDP, Unemployment Data Due

01/29/2021 - 00:35:00 (RTTNews)

(RTTNews) - Quarterly national accounts and unemployment from Germany are due on Friday, headlining a busy day for the European economic news.

At 1.30 am ET, the French statistical office Insee publishes flash GDP data for the fourth quarter and consumer spending for December. The economy is forecast to contract 4 percent sequentially in the fourth quarter, after rising 18.7 percent in the third quarter.

At 2.00 am ET, Germany's unemployment and import price reports are due from Destatis. Economists expect import prices to fall 3.1 percent year-on-year in December, slower than the 3.8 percent decrease in November.

At 3.00 am ET, Spain's INE releases flash GDP, consumer prices and retail sales figures. GDP is expected to fall 1.5 percent sequentially in the fourth quarter, reversing a 16.4 percent rise in the third quarter.

In the meantime, average gross wages from Hungary and GDP from Austria are due.

At 3.55 am ET, the Federal Labor Agency publishes Germany's unemployment data for January. The jobless rate is seen unchanged at 6.1 percent.

At 4.00 am ET, Destatis releases Germany's fourth quarter GDP figures. The economy is expected to remain flat sequentially in the fourth quarter, following an 8.5 percent expansion in the third quarter.

Also, the European Central Bank is slated to issue private sector credit data. M3 is seen rising 11.2 percent annually in December versus 11 percent increase in November.

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