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European Economics Preview: U.K. Public Sector Finance Data Due


Public sector finance from the U.K. is the major statistical report due on Tuesday, headlining a light day for the European economic news. Elsewhere, Spain is set to raise a maximum EUR 4 billion from the issue of short-term debt.

Earlier in the day, Eurozone finance ministers reached an agreement over a second bailout worth EUR 130 billion for Greece.

At 2.00 am ET, the Federal Customs Administration is slated to release Swiss external trade data. The trade surplus is forecast to rise to CHF 2.5 billion in January from CHF 2.01 billion in December.

In the meantime, Statistics Finland is scheduled to issue labor force survey results for January.

Swiss M3 money supply for January is due from the Swiss National Bank at 3.00 am ET. M3 money supply growth accelerated to 7.7 percent in December from 7.3 percent in November.

In the meantime, Hungary's gross wages for December are due. Economists forecast gross wages to rise 6.2 percent annually compared to November's 6 percent growth.

At 4.30 am ET, the Office for National Statistics is set to issue public sector borrowing figures. U.K. public sector net borrowing, excluding interventions, are seen at -GBP 6.3 billion in January compared to GBP 13.7 billion in December.

Elsewhere, Spain is set to enter the debt market. The government aims to get EUR 1.5 billion from 3-month treasury bills and EUR 2.5 billion from 6-month treasury bills.

by RTTNews Staff Writer

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