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Financial News: European Economics Preview: UK GDP Data Due

European Economics Preview: UK GDP Data Due

06/12/2020 - 00:26:00 (RTTNews)

(RTTNews) - Monthly GDP, industrial production and foreign trade from the UK and final consumer prices from France are the major reports due on Friday.

At 2.00 am ET, the Office for National Statistics publishes GDP data for April. The UK economy is forecast to contract 18.7 percent on month, following a 5.8 percent decrease in March.

UK industrial production and foreign trade figures are also due. Economists forecast industrial output to decline 15 percent on month, bigger than the 4.2 percent fall in March. The total trade deficit is seen at GBP 11.6 billion versus -GBP 12.5 billion in the previous month.

At 2.45 am ET, France's Insee is scheduled to release final consumer price data. Inflation is forecast to ease to 0.2 percent in May, as initially estimated, from 0.3 percent in April.

At 3.00 am ET, Spain's INE is set to issue final inflation data. According to initial estimate, consumer prices declined 1 percent annually in May. The statistical office is expected to confirm the preliminary estimate.

In the meantime, industrial production and retail sales from Turkey are due. Economists forecast output to fall 17 percent annually in April compared to a 2 percent drop in March.

At 4.00 am ET, Italy's Istat is set to issue unemployment data.

At 5.00 am ET, Eurostat publishes euro area industrial production figures for April. Production is expected to fall 20 percent on month, following an 11.3 percent decrease in March.

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