European Economics Preview: German Retail Sales, Eurozone Manufacturing PMI, UK Mortgage Approvals Due
(RTTNews) - Monday, important reports due for the day include German retail sales and UK mortgage approvals. The results of the Purchasing Managers’ Index survey for the manufacturing sector of major European economies are also due.
The Federal Statistical Office set to announce the German retail sales results at 2.00 am ET. Retail sale is expected to fall 0.3% month-on-month in July following a 1.4% decline in June. Compared to prior year, retail sale is predicted to drop 2.3%. At the same time, Statistics Estonia is scheduled to issue the industrial production data for July.
At 3.30 am ET, the Switzerland’s SVME Purchasing Manager’s Index is due for August. The index is seen at 53.2 in August, down from 54.1 in July. In the meantime, the Danish statistical office is slated to release the GDP data. The Danish economy is expected to expand 1.4% year-on-year in the second quarter, after contracting 0.7% in the first quarter.
This would be followed by manufacturing PMI from major economies like Italy, France, Germany and Eurozone. The Eurozone manufacturing PMI in August is expected to match its initial estimate of 47.5.
Several economic reports are due from the UK at 4.30 am ET. The Bank of England is slated to release mortgage approvals and a final report for M4 money supply for July. The number of mortgage approvals in July is seen at 36,000, the same as in June.
Meanwhile, the UK mortgage approvals data is also due from the Building Societies Association, or BSA. At the same time, the CIPS Construction Purchasing Managers’ Index is due from the Markit Economics.
Half an hour later, Italian hourly wages, which is due from the Italian statistical office ISTAT, is expected to rise 3.8% year-on-year in July, faster than the 3.6% in June.
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