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Financial News: European Economics Preview: UK GDP, Foreign Trade Data

European Economics Preview: UK GDP, Foreign Trade Data Due

01/14/2022 - 01:13:00 (RTTNews)

(RTTNews) - Monthly GDP, foreign trade and industrial production from the UK and annual GDP data from Germany 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 GDP, foreign trade and industrial production data for November. Economists expect the economy to grow 0.4 percent on month, faster than the 0.1 percent increase in October.

The visible trade deficit is seen at GBP 14.2 billion in November versus -GBP 13.9 billion in October.

At 2.45 am ET, France statistical office Insee releases flash consumer price data. Inflation is forecast to match the flash estimate of 2.8 percent in December.

At 3.00 am ET, consumer price data is due from Hungary. Economists forecast inflation to ease to 7.2 percent in December from 7.4 percent in November.

In the meantime, final consumer price data is due from Spain. According to flash estimate, consumer price inflation rose to 6.7 percent in December from 5.5 percent in November.

At 3.30 am ET, Statistics Sweden publishes consumer price data for December. Economists expect inflation to climb to 3.8 percent from 3.3 percent in November.

At 4.00 am ET, Destatis is scheduled to issue Germany's full year GDP growth for 2021. The economy is expected to grow 2.7 percent compared to a decline of 4.6 percent in 2020.

At 5.00 am ET, Eurostat is set to release euro area foreign trade data for November. The trade surplus totaled EUR 3.6 billion in October.

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