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Financial News: European Economics Preview: UK GDP Data Due

European Economics Preview: UK GDP Data Due

05/12/2021 - 01:08:00 (RTTNews)

(RTTNews) - Quarterly national accounts and foreign trade from the UK are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. The economy is forecast to contract 1.6 percent sequentially in the first quarter, following a 1.3 percent rise in the fourth quarter.

The visible trade deficit is seen at GBP 14.4 billion in March versus -GBP 16.44 billion in February. Economists expect industrial output to grow 1 percent month-on-month in March.

In the meantime, final consumer price data is due from Germany. According to flash estimate, consumer price inflation rose to 2.0 percent in April from 1.7 percent in March.

At 2.45 am ET, France Insee is scheduled to issue final consumer prices for April. The preliminary estimate showed that consumer price inflation rose to a 14-month high of 1.3 percent in April from 1.1 percent in March.

At 3.30 am ET, consumer price data is due from Statistics Sweden. Economists forecast inflation to climb to 2.2 percent in April from 1.7 percent in March.

At 5.00 am ET, Eurostat is slated to release euro area industrial production data for March. Output is expected to climb 0.7 percent on month, reversing a 1 percent fall in February.

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