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European Economics Preview: U.K. GDP Data Due


Quarterly national accounts from the U.K. is the major data that is set to dominate the scene on Wednesday.

Spain's statistical office INE is set to publish producer prices for March. Producer prices had increased 3.4 percent year-on-year in February.

At 4.00 am ET, the European Central Bank is scheduled to release bank lending survey results. In the meantime, Norges Bank's first quarter bank lending survey data is due.

Poland's retail sales and unemployment reports are also due at 4.00 am ET. The jobless rate is seen falling to 13.4 percent in March from 13.5 percent in February. Retail sales growth is expected to drop to 10.5 percent from 13.7 percent a month ago.

The Office for National Statistics is scheduled to release quarterly national accounts for the first quarter. Economists forecast the U.K. economy to expand 0.1 percent sequentially after contracting 0.3 percent in the fourth quarter of 2011.

In the meantime, the U.K. index of services for three months ended February is due. Services output is expected to rise 0.5 percent from the prior three months.

At 5.30 am ET, Germany's long-term debt auction results are due. The government aims to raise EUR 3 billion from the issue of bonds maturing on July 2044.

The Confederation of British Industry is scheduled to release Industrial Trends survey data at 6.00 am ET. The order book balance is seen at -6 percent in April compared to -8 percent in March.

by RTTNews Staff Writer

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