(RTTNews) - European Economics Preview: Eurozone Economic Sentiment Forecast To Rise

Eurozone economic sentiment and German unemployment data are due on Thursday, headlining a hectic day for European economic news.

At 4:00 am ET, Spain’s National Statistics Institute is set to release a flash estimate for harmonized consumer price figures for October. Year-on-year, prices are forecast to fall 0.7%, slower than the 1% drop in the previous month.

Simultaneously, unemployment data is due from Hungary’s Central Statistical Office. The unemployment rate is seen at 10.1% in the July to September period.

Half an hour later, the Statistics Denmark is scheduled to release unemployment data for September. Economists expect the unemployment rate to climb to a seasonally adjusted 3.9%, up from 3.7% in the preceding month.

At 4:55 am ET, Germany’s Federal Labor Agency is expected to issue unemployment figures for October. The number of unemployed is forecast to increase by 15,000, after declining 12,000 in the previous month.

Shortly later at 5:00 am ET, Italian hourly wage statistics for September is due from the statistical office ISTAT. Last month, hourly wages increased 2.4% on a yearly basis and edged up 0.3% on a monthly basis.

Elsewhere, Norwegian retail sales figures for September are due from Statistics Norway. Year-on-year, economists expect sales to rise an unadjusted 2.2%, faster than the 1.5% increase in the preceding month, while the monthly rate of growth is seen at a seasonally adjusted 0.4%. At the same time, Norway’s Labor and Welfare Administration is set to release unemployment data for October. The unemployment rate is expected to remain unchanged at 2.7%.

Icelandic producer price figures for September are due from Statistic Iceland at 5:00 am ET. Producer prices had increased 13.8% year-on-year in August.

At 5:30 am ET, the Bank of England is scheduled to issue mortgage approval statistics for September. In September, the number of mortgage approvals is seen at 53,600, up from 52,300 last month. At the same time, secured lending is forecast to rise by GBP 0.8 billion, while net consumer credit is expected to fall by GBP 0.2 billion.

At the same time, the central bank is expected to release revised figures for September’s M4 money supply. Preliminary estimates showed money supply had increased 11.3% on a yearly basis and grew 0.7% on a monthly basis.

In the meantime, the U.K.’s Building Societies Association is expected to release lending statistics for September. In August, total mortgage approvals were worth GBP 1.34 billion.

Afterwards at 6:00 am ET, the European Commission is scheduled to issue its economic sentiment survey results for the Eurozone. In October, economic sentiment is forecast to rise to 84.4 from 82.8 in the previous month. The consumer sentiment index is forecast to increase slightly to minus 18 from minus 19. The industrial sentiment index is expected to climb to minus 22 from minus 24, while the business climate index is seen at minus 1.90, up from minus 2.07.

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Posted in Categories: Economy, Eurozone, Forex, Releases, UK.

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