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European Economics News Preview: UK & Germany GDP Data Due
(RTTNews) - National accounts from the UK and Germany are the top economic news due on Friday, headlining a busy day for the European economic news.
At 2.00 am ET, the Office for National Statistics is scheduled to issue UK GDP, industrial production and foreign trade data. The economy is forecast to shrink 0.2 percent on month in November, in contrast to the 0.5 percent expansion in October.
The UK visible trade deficit is seen at GBP 14.9 billion versus GBP 14.47 billion in October. Economists forecast industrial and manufacturing output to fall 0.3 percent and 0.2 percent, respectively.
At 2.45 am ET, France's Insee is set to publish final inflation data for December. Consumer price inflation is seen at 5.9 percent, unchanged from the flash estimate. At 3.00 am ET, Spain's INE releases final consumer and harmonized prices data. According to flash estimate, inflation based on the consumer price index, slowed to 5.8 percent in December from 6.8 percent in November.
At 4.00 am ET, Destatis publishes Germany full year GDP data. Economists forecast the economy to expand 1.8 percent in 2022, down from 2.6 percent in 2021.
At 4.00 am ET, Italy's Istat releases industrial production for November. Industrial output is expected to grow 0.3 percent on month, in contrast to the 1.0 percent decline in October.
At 5.00 am ET, Euro area industrial output and foreign trade figures are due. Economists expect industrial output to gain 0.5 percent month-on-month in November, reversing October's 2.0 percent fall.
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