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6:48 GMT
13
Jan 2009

European Economics Preview: UK Trade Deficit Expected To Narrow

(RTTNews) - Tuesday, the UK external trade data and German wholesale trade prices are the major statistical reports expected from Europe.

At 2.00am ET, the German statistical office is set to issue wholesale trade prices for December. The index of selling prices in wholesale trade had declined 0.8% year-over-year in November, in contrast to the 3.6% rise recorded in the previous month. The wholesale price index is now expected to fall 2.1% on a yearly basis in December.

In the meantime, Finnish trend indicator of output for October is due from Statistics Finland.

At 2.45am ET, the French central government balance report is due. In November, the balance revealed a deficit of EUR 60.7 billion.

Thereafter, the Statistical Office of the Slovak Republic is scheduled to release the consumer price inflation data for December at 3.00am ET. Annual inflation was 4.9% in November, slower than October’s 5.1%.

Half an hour later, the Statistics Sweden is slated to report consumer prices for December. Annual inflation is predicted to slow to 1.4% in December from 2.5% in November.

The UK trade data is due from the Office for National Statistics at 4.30am ET. The visible trade balance is forecast to show a deficit of GBP 7.5 billion in November, down from GBP 7.8 billion in October. Meanwhile, total trade deficit is expected to fall to GBP 3.7 billion from GBP 3.8 billion.

At the same time, the UK November house prices is due form DCLG. House prices are expected to fall 8.5% annually in November, following a decline of 7.4% in October.

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