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Financial News: European Economics Preview: UK GDP Data Due

European Economics Preview: UK GDP Data Due

11/12/2020 - 00:25:00 (RTTNews)

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

At 2.00 am ET, the Office for National Statistics releases quarterly and monthly UK GDP estimates and foreign trade data. The economy is forecast to grow 15.8 percent sequentially in the third quarter after falling 19.8 percent in the second quarter.

UK industrial production is forecast to climb 0.8 percent in September. The trade deficit is seen at GBP 9.5 billion compared to a shortfall of GBP 9.01 billion in August.

In the meantime, Destatis releases Germany's final consumer prices and wholesale for October. According to preliminary estimate, consumer prices fell 0.2 percent on year, the same rate of decrease as seen in September.

Also, Statistics Norway issues quarterly GDP data for the third quarter.

At 3.00 am ET, Bank of England Governor Andrew Bailey is set to speak at the Financial Times Global Conference.

In the meantime, industrial production data from Hungary and consumer prices from Slovakia are due.

Half an hour later, Statistics Sweden publishes consumer prices for October. Economists forecast inflation to remain at 0.4 percent.

At 4.00 am ET, the European Central Bank is set to release economic bulletin.

At 5.00 am ET, Eurostat is set to issue euro area industrial production for September. Economists forecast output to grow at a steady pace of 0.7 percent.

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