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6:57 GMT
31
Oct 2008

European Economics Preview: Eurozone Annual Inflation Expected To Ease

(RTTNews) - The month is set to close with the release of numerous statistical reports from European economies on Friday.

A slew of statistical reports are due at 3.00am ET. German retail turnover, which is due from the Federal Statistical Office, is forecast to drop 1% month-on-month in September, following a 1.9% increase in August.

Finnish industrial output and Estonian industrial production as well as retail trade reports are expected at the same time. Finnish industrial production had decreased 1.1% year-on-year in August. Meanwhile, Estonian industrial production had grown 1.6% in August from the previous month. On a yearly basis, production was down 7.5% in August.

At 4.30am ET, the Bank of Spain is scheduled to release the current account report. The current account deficit in July was EUR7.38 billion, smaller than the EUR10 billion recorded in the previous year.

Half an hour later, the Czech central bank is slated to release money supply details. M2 money supply had increased 8.3% in August. In the meantime, the Icelandic trade balance and Italian producer price inflation reports are also due. Italian producer price inflation is seen at 7.6% annually, down from 8.2% in August. Compared to prior month, producer prices are expected to edge down 0.1%.

One hour later, the Eurostat is set to release preliminary report for consumer price inflation for Eurozone. Eurozone annual inflation is expected to ease to 3.2% in October from 3.6% in September. The jobless rate is also due for September, which is predicted to stay at 7.5%.

At 6.30am ET, Italian statistical office is scheduled to issue the consumer price inflation data. Consumer price annual inflation in October is expected to ease to 3.5% from 3.8% in September. At the same time, the index is forecast to stay flat, after falling 0.3% in September.

Afterwards, the Swiss leading indicator, due from the KOF Economic Institute is seen at 0.49 in October, down from 0.62 in September.

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