European Economics Preview: U.K. Trade Data Due
(RTTNews) - UK’s external trade data and German economic sentiment survey results are due on Tuesday, headlining a hectic day for European economic news.
At 2:00 am ET, Germany’s Federal Statistical Office is expected to release final consumer price figures for October. Economists do not expect any change to the preliminary estimates, with prices rising 0.1% on a monthly basis and remaining flat annually.
Simultaneously, the Statistics Finland is set to issue industrial production data for September. Last month, industrial output had fallen 21.2% on a yearly basis.
At 2:45 am ET, industrial production data is due from the French statistical office INSEE. Industrial output is expected to rise 0.5% month-on-month in September, slower than the 1.8% growth in August. On a yearly basis, output is expected to fall 9.2%. Manufacturing output growth is seen at 1.2% on a monthly basis in September.
The Statistics Denmark is set to issue consumer price inflation figures for October at 3:30 am ET. Consumer prices increased 0.8% on a yearly basis and grew 0.2% on a monthly basis in September.
At the same time, the Statistics Sweden is set to issue industrial production data for September. Industrial output is tipped to rise 0.5% month-on-month compared to the 2.9% fall in the previous month. Year-on-year, output is forecast to fall 19.7%. Industrial orders data for September is also due from the statistical office. Industrial orders had slid 4.2% month-on-month in August. Further, the Swedish economy’s activity index for September is also expected.
Half an hour later, Italian industrial production figures are due from the statistical office ISTAT. Economists expect output to fall a seasonally adjusted 4% month-on-month in September compared to the 7% growth in August.
Elsewhere, the Statistics Norway is set to issue consumer price inflation figures for October at 4:00 am ET. Consumer prices are forecast to rise 0.8% on a yearly basis, slower than the 1.2% increase in the previous month. Consumer prices are expected to remain flat on a monthly basis. Core consumer price inflation rate is seen at 2.2% on a yearly basis and 0.1% on a monthly basis. Norwegian producer price inflation figures are also due at the same time from the statistical office.
At 4:30 am ET, the U.K.’s Office for National Statistics is scheduled to release trade figures for September. Economists expect a visible trade deficit of GBP 6.1 billion, narrower than the GBP 6.24 billion deficit last month. The Non-EU trade balance is tipped to log a deficit of GBP 3 billion.
In the meantime, house prices data is due from the U.K.’s Department of Communities and Local Government. House prices are forecast to fall 4.8% annually in September, slower than the 5.6% decline in the preceding month.
At 5:00 am ET, the Centre for European Economic Research or ZEW is expected to release economic sentiment survey results for Germany. The economic sentiment indicator for Germany is seen at 55 in November, down from 56 in the previous month. The current conditions index is expected to rise to minus 70 from minus 72.2. Meanwhile, the economic sentiment indicator for the Eurozone is seen at 58 in November compared to 56.9 in October.
At 8:00 am ET, the Polish central bank is scheduled to issue current account data for September. The current account had logged a deficit of EUR 0.69 billion deficit in August.
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