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European Economics Preview: German Factory Production, Eurozone Retail Sales Due

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Wednesday is a relatively busy day in Europe with the release of German factory production data and Eurozone retail sales figures scheduled.

Germany's Destatis is set to release the industrial production figures for September at 2 am ET. Production is expected to fall 0.1 percent monthly after a 0.3 percent slump in August. On a year-on-year basis, output is forecast to grow 0.2 percent following a 0.1 percent drop in the previous month.

Figures released on Tuesday showed that factory orders unexpectedly rose for a second straight month in September, led by domestic demand, suggesting improvement in the economic momentum ahead.

At 5 am ET, Eurostat is set to publish the euro area retail sales data for September. Sales are expected to edge up 0.1 percent from the previous month, when they fell 0.2 percent. Compared to a year ago, retail sales are expected to grow 0.8 percent after a 1.8 percent gain in the previous month.

A look at other news scheduled for the day.

Inflation data for October is due from Estonia at 1 am ET. Headline CPI inflation accelerated for a second straight month to 3.7 percent in September and prices were unchanged from the previous month.

At 2 am ET, Statistics Norway is set to publish the industrial production data for September. In August, industrial production grew 1.8 percent from the previous month and 2.3 percent from a year ago.

Manufacturing output is forecast to grow 0.4 percent from the previous month after a 0.1 percent drop in August. Factory output grew 5.1 percent year-on-year in August.

France's Customs Office is expected to release the trade data for September at 2.45 am ET. The trade deficit was EUR 5.6 billion in August.

Swiss foreign currency reserves data for October is due at 3 am ET.

Elsewhere, the Hungarian Central Statistical Office is set to release the first estimate for September retail sales. Sales grew 6.8 percent year-on-year in August.

Half an hour later, IHS Markit is scheduled to release the latest Halifax house price index for October. Economists have forecast a monthly increase of 0.8 percent and an annual gain of 1.3 percent in the UK house prices. In September, house prices were 1.4 percent lower than in the pervious month and 2.5 percent higher from a year ago.

IHS Markit is also set to release the German Construction PMI for October at 3.30 am ET. In September, the reading was 50.2. A score above 50 suggests growth.

Further, Sweden's National Debt Office is set to release the budget balance for October at 3.30 am ET.

At 3.55 am ET, Iceland's central bank is scheduled to announce its latest policy decision. The interest rate is currently at 4.25 percent.

Italy's statistical office ISTAT is set to release retail sales data for September. Sales are expected to grow 2.1 percent year-on-year and 0.7 percent from the previous month. In August, retail sales grew 2.1 percent from a year ago and fell 0.2 percent from July.

In other news, the National Bank of Poland is scheduled to announce its latest policy decision on Wednesday. The central bank is widely expected leave the key interest rate unchanged at 1.50 percent.

Also due on Wednesday are Finland's trade data and Denmark's industrial production data for September at 2 am ET, Slovakia's retail sales, trade and industrial production data for September and Austria's wholesale prices for October at 3 am ET, Luxembourg's CPI figures for October at 5 am ET, and Portugal's Q3 unemployment rate and Ireland's September industrial production data at 6 am ET.

Late Wednesday, the UK RICS house price balance for October is due at 07.01 pm ET.

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