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Financial News: European Economics Preview: UK GDP Data Due

European Economics Preview: UK GDP Data Due

07/14/2020 - 00:31:00 (RTTNews)

(RTTNews) - Monthly GDP estimate, foreign trade and industrial and services output figures are due from the UK on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics is set to release UK GDP, industrial output and trade figures. The economy is forecast to expand 5 percent on month in May, reversing a 20.4 percent decline in April.

Economists forecast UK industrial output to grow 6 percent on month, in contrast to a 20.3 percent fall in April. The trade deficit is seen at GBP 8.1 billion versus -GBP 7.49 billion in April.

In the meantime, Destatis publishes Germany's final consumer prices for June. Inflation is forecast to rise to 0.9 percent, as initially estimated, from 0.6 percent in May.

At 3.00 am ET, Spain's INE releases final consumer prices for June. Inflation is seen at 0.5 percent, in line with flash estimate.

Half an hour later, consumer price data is due from Sweden. Prices are forecast to rise 0.5 percent annually in June after staying flat in May.

At 5.00 am ET, Germany's ZEW economic confidence survey results are due. Economists expect the sentiment index to fall to 60.0 in July from 63.4 in June.

Also, Eurozone industrial production data is due. Industrial output is expected to rise 15 percent on month, in contrast to a 17.1 percent decrease in April.

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