European Economics Preview: Germany Retail Sales, Unemployment Data Due

Retail sales, unemployment and final manufacturing Purchasing Managers’ survey results are due from Germany on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis releases Germany’s retail sales and unemployment data. Sales are forecast to drop 1.4 percent on month in December, in contrast to the 0.6 percent rise in November.

Also, UK Nationwide house price data is due. Economists forecast house prices to rise 10.8 percent annually in January, faster than the 10.4 percent rise in December.

At 2.30 am ET, the Federal Statistical Office publishes Swiss retail sales for December. Sales had increased 1.3 percent on month in November.

At 2.45 am ET, the French statistical office Insee is scheduled to issue flash consumer prices for January. Economists forecast consumer price inflation to slow to 2.4 percent from 2.8 percent in December.

At 3.00 am ET, Purchasing Managers’ survey results are due from Poland and the Netherlands. In the meantime, GDP data from the Czech Republic and foreign trade from Hungary are due.

At 3.15 am ET, IHS Markit is scheduled to issue Spain’s manufacturing PMI data. Economists forecast the PMI to fall to 56.0 in January from 56.2 in the prior month.

At 3.45 am ET, manufacturing PMI survey results are due from Italy. The index is seen at 61.0, down from 62.0 a month ago.

Thereafter, final PMI survey data is due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 3.55 am ET, Germany’s unemployment data is also due. The jobless rate is forecast to remain unchanged at 5.2 percent in January.

At 4.00 am ET, the European Central Bank releases bank lending survey results. The final factory PMI survey results are due from euro area.

Also, Italy’s unemployment data is due from the statistical office Istat.

Half an hour later, Bank of England is set to issue mortgage approvals data. The number of mortgages approved in December is seen at 66,000 versus 66,960 in the prior month.

UK CIPS/Markit final manufacturing PMI survey results are also due at 4.30 am ET.

At 5.00 am ET, Eurostat is scheduled to issue euro area unemployment data. Economists expect the jobless rate to fall to 7.1 percent in December from 7.2 percent in November.

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