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European Economics Preview: Eurozone Retail Sales Data Due

European Economics Preview: Eurozone Retail Sales Data Due

Retail sales from euro area is the major report due on Tuesday, headlining a light day for the European economic news.

At 3.15 am ET, Spain's services Purchasing Managers' survey data is due. Thereafter, final PMI figures are due from France and Germany.

At 4.00 am ET, Markit Economics is scheduled to publish Eurozone final PMI data for February. The composite PMI reading is seen at 47.3, in line with flash estimate.

At 4.30 am ET, the U.K. CIPS/Markit services PMI is due. The index is forecast to fall to 51 in February from 51.5 in January. In the meantime, the U.K. treasury is scheduled to release February official reserves data.

Half an hour later, Eurostat is slated to release retail sales figures. Eurozone retail sales are expected to rise 0.3 percent month-on-month in January, reversing a 0.9 percent fall in December.

Later today, European finance ministers will meet in Brussels. The Council of the EU will take note of progress on a draft directive on bank recovery and resolution, that is part of a broader plan to establish a banking union.

by RTT Staff Writer

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