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European Economics Preview: Germany GDP, PMI, Business Sentiment Due


Revised quarterly national accounts, flash purchasing managers' survey results and Ifo business confidence are due from Germany, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's GDP data. GDP is forecast to grow 0.4 percent sequentially in the first quarter, the same pace as initially estimated.

In the meantime, Statistics Norway publishes unemployment data. The jobless rate is seen at 3.7 percent in March.

At 3.15 am ET, IHS Markit releases France's flash PMI data for May. The composite PMI is forecast to rise to 50.3 in May from 50.1 in April.

At 3.30 am ET, Germany's composite PMI figures are due. Economists expect the index to fall to 52 in May from 52.2 in April.

At 4.00 am ET, Germany's Ifo business confidence and euro area flash PMI reports are due. Germany's business confidence index is expected to fall to 99.1 in May from 99.2 in April.

The euro area composite PMI is seen at 51.7 in May versus 51.5 in April.

At 7.30 am ET, the European Central Bank releases accounts of the monetary policy meeting of the Governing Council held on April 9 and 10.

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