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Financial News: European Economics Preview: UK Retail Sales, Flash PMI

European Economics Preview: UK Retail Sales, Flash PMI Due

07/22/2022 - 00:02:00 (RTTNews)

(RTTNews) - Retail sales from the UK and flash Purchasing managers' survey results from both euro area and the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK retail sales data for June. Sales are expected to fall 0.3 percent in June from May, when the volume was down 0.5 percent.

At 3.15 am ET, S&P Global releases France flash Purchasing Managers' survey results. The composite output index is seen falling to 51.8 in July from 52.5 in the previous month.

At 3.30 am ET, Germany's flash PMI survey data is due. Economists forecast the composite index to drop to 50.1 in July from 51.3 in June.

Half an hour later, S&P Global is slated to release Eurozone flash PMI data. The composite output index is seen at 51.0 in July versus 52.0 in the previous month.

At 4.30 am ET, UK S&P/CIPS composite PMI survey results are due. Economists expect the index to drop to 52.5 in July from 53.7 in June.

At 6.30 am ET, Russia's central bank is slated to announce its interest rate decision. The bank is likely to cut its key interest rate to 9.00 percent from 9.50 percent.

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