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Financial News: European Economics Preview: UK Spending Review Announcemen

European Economics Preview: UK Spending Review Announcement Due

11/25/2020 - 00:36:00 (RTTNews)

(RTTNews) - UK Chancellor Rishi Sunak is set to unveil spending review for the financial year 2021-22 on Wednesday.

Due to uncertainty caused by the coronavirus pandemic, Sunak has reduced the review period to one year from three years. The announcement is due at 7.00 am ET.

The chancellor is also slated to provide the forecasts for the economy and public finances prepared by the Office for Budget Responsibility. Other major economic data due for the day are as follows:

At 2.00 am ET, unemployment from Norway and retail sales from Denmark are due. Norway's jobless rate is seen unchanged at 5.3 percent in September.

At 3.00 am ET, Spain's INE releases producer price data for October.

At 4.00 am ET, the European Central Bank releases the Financial Stability Review. In the meantime, unemployment data is due from Poland. The jobless rate is forecast to remain unchanged at 6.1 percent in October.

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