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

European Economics Preview: UK GDP, Foreign Trade Data Due

07/13/2022 - 00:27:00 (RTTNews)

(RTTNews) - GDP estimates and foreign trade data from the UK and final inflation figures from Germany and France are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases the UK national accounts, industrial output and foreign trade figures. The economy is forecast to remain flat on month in May, following a 0.3 percent fall in April.

The UK visible trade deficit is seen at GBP 21.2 billion in May versus a GBP 20.9 billion shortfall logged in the previous month.

In the meantime, Germany's Destatis publishes revised consumer and harmonized inflation data for June. According to flash estimate, consumer price inflation eased to 7.6 percent from 7.9 percent in May. The statistical office is expected to confirm the preliminary estimate.

At 2.45 am ET, France's final inflation figures are due. Consumer price inflation is seen at 5.8 percent in June, unchanged from the flash estimate and down from 5.2 percent in May.

At 3.00 am ET, consumer prices figures are due from Spain and the Czech Republic. Spain's INE is expected to confirm consumer price inflation at 10.2 percent in June. At 5.00 am ET, Eurostat publishes euro area industrial production figures for May. Production is forecast to grow 0.3 percent on month, after rising 0.4 percent in April.

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