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European Economics Preview: Eurozone Retail Sales Data Due

europeanec july3

Retail sales and producer prices from euro area are due on Tuesday, headlining a light day for the European economic news.

At 3.00 am ET, retail sales and foreign trade from Hungary and consumer and producer prices from Turkey are due. Hungary's retail sales growth is seen at 5.4 percent in May versus 6.1 percent in April.

Turkey's inflation is expected to accelerate to 13.9 percent in June from 12.15 percent in May.

At 3.30 am ET, Sweden's central bank is set to announce the outcome of its monetary policy meeting. The bank is expected to hold its key rate at -0.50 percent.

At 4.30 am ET, UK Markit/CIPS construction Purchasing Managers' survey results are due. The index is expected to remain unchanged at 52.5 in June.

At 5.00 am ET, Eurostat releases euro area retail sales and producer prices data. Sales are forecast to gain 0.1 percent on month in May, the same pace of increase as seen in April.

At the same time, economists expect producer price inflation to rise to 2.7 percent in May from 2 percent in April.

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