European Economics Preview: UK Services PMI Data Due

europeaneconomic july4

Services Purchasing Managers' survey from the UK and euro area are due on Wednesday, headlining a light day for the European economic news.

At 3.00 am ET, the Czech Statistical Office is set to publish retail sales data for May. Retail sales are forecast to grow 3.5 percent annually, slower than the 4.7 percent increase logged in April.

At 3.45 am ET, IHS Markit releases Italy's services PMI data is due. Economists forecast the index to rise to 53.3 in June from 53.1 in May.

Thereafter, final PMI figures are due from France and Germany.

At 4.00 am ET, IHS Markit releases euro area final composite PMI for June. The index is seen at 54.8 in June, in line with flash estimate. The services PMI is expected to match the flash score of 55.0.

Half an hour later, UK CIPS/Markit services PMI is due. Economists forecast the index to remain unchanged at 54.0 in June.

At 5.45 am ET, Romania's central bank is expected to announce its interest rate decision. The bank is set to hold its key rate at 2.50 percent.

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