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Financial News: European Economics Preview: UK GDP Data Due

European Economics Preview: UK GDP Data Due

03/12/2021 - 00:20:00 (RTTNews)

(RTTNews) - Monthly GDP estimate, industrial production and foreign trade reports from the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics is set to publish UK GDP data for January. The economy is forecast to contract 4.9 percent on month, reversing a 1.2 percent rise in December.

Foreign trade and industrial output figures are also due from the UK. The visible trade deficit is seen at GBP 12.5 billion versus -GBP 14.3 billion shortfall a month ago. Economists forecast industrial output to drop 0.6 percent month-on-month, in contrast to an increase of 0.2 percent in December.

In the meantime, Germany's final consumer price figures for February are due. The statistical office is expected to confirm 1.3 percent consumer price inflation for February.

At 3.00 am ET, Spain's INE releases final consumer price data. In the meantime, the Czech industrial output data is due.

At 5.00 am ET, Eurostat publishes euro area industrial production for January. Output is expected to grow 0.2 percent on month, reversing a 1.6 percent drop in December.

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