European Economics Preview: German GfK Consumer Confidence Forecast To Fall

(RTTNews) - Monday, major statistical reports due from European economies include German consumer confidence and French producer price inflation.

At 2.00am ET, the Federal Statistical Office is scheduled to release German foreign trade prices for November. Import prices are forecast to fall 2.4% month-on-month in November, following a 3.6% drop in the previous month. On a yearly basis, prices are expected to decrease 0.2%.

At 2.10am ET, the GfK Group is expected to issue monthly consumer confidence survey results. German consumer confidence is predicted to ease slightly to 2.1 for January from 2.2 points logged in December.

Thereafter, the French PPI data is due at 2.45am ET. After rising 4.3% annually in October, producer prices are now predicted to climb at a slower pace of 2.7% in November. Month-on-month, decline in the producer price index is seen at 0.8%.

Hungarian retail sales, due from the Hungarian Central Statistical Office at 3.00am ET is expected to show an annual decrease of 2.2% in October.

At 3.15am ET, the National Institute of Economic Research is slated to release Swedish economic tendency survey results. Consumer confidence is seen at minus 26 in December, down from minus 24.5 in the prior month. Meanwhile, manufacturing confidence is forecast to fall to minus 31 from minus 29 recorded in November.

At 3.30am ET, the Swedish PPI is due from the Statistics Sweden. Economists estimate producer price inflation to slow to 3.5% in November from 3.8% in October.

At 4.00am ET, the Italian non-EU trade balance details are expected from the statistical office ISTAT. The non-EU trade deficit in October was EUR 380 million. At the same time, the Icelandic consumer price inflation report as well as wage data are due. Annual inflation in November was 17.1%.

Thereafter, the Hungarian central bank is set to announce its interest rate decision at 8.00am ET. The central bank is expected to reduce bank rate to 10% from 10.5%.

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