European Economic News Preview: Eurozone GDP Data Due

Flash quarterly national accounts from the euro area and other major European economies are due on Tuesday, headlining a hectic day for the European economic news.

At 1.30 am ET, France’s statistical office Insee is scheduled to issue flash GDP and household spending data. The economy is forecast to remain flat in the fourth quarter after expanding 0.2 percent a quarter ago.

At 2.00 am ET, Destatis is slated to publish Germany’s retail sales, unemployment and import price figures. Import price inflation is seen easing to 12.0 percent in December from 14.5 percent in November.

At 2.30 am ET, retail sales data is due from Switzerland. Real retail turnover is forecast to fall 0.7 percent annually in December after easing 1.3 percent in November.

At 2.45 am ET, France’s Insee releases flash consumer prices and producer price reports. Consumer price inflation is seen at 6.1 percent in January versus 5.9 percent in December.

At 3.00 am ET, preliminary GDP data is due from the Czech Republic and Austria.

At 3.55 am ET, the Federal Labor Agency publishes Germany’s unemployment data for January. Economists expect the number of people out of work to rise 5,000, reversing a fall of 13,000 in December.

At 4.00 am ET, Italy’s Istat is slated to issue unemployment data for December. The jobless rate is seen unchanged at 7.8 percent.

Half an hour later, the Bank of England releases mortgage approvals for December. The number of mortgage approvals is forecast to fall to 45,000 from 46,075 in the previous month.

At 5.00 am ET, Eurostat is scheduled to issue euro area preliminary flash GDP estimate for the fourth quarter. Economists expect the currency bloc to shrink 0.1 percent sequentially after rising 0.3 percent in the third quarter.

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