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European Economics Preview: Eurozone Flash Inflation Data Due

Flash consumer prices from euro area and retail sales from Germany are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales and import price data. Economists forecast retail sales to fall 14.3 percent on year in April, much bigger than the 2.8 percent drop reported in March.

In the meantime, UK Nationwide house price data is due. House prices are forecast to rise 2.8 percent annually in May after climbing 3.7 percent in April.

At 2.45 am ET, flash consumer prices, final GDP, producer prices and household consumption reports are due from France. Consumer price inflation is seen unchanged at 0.3 percent in May.

At 3.00 am ET, GDP figures are due from Austria, Hungary and Turkey. Turkey's economy is expected to grow 5.4 percent on year in the first quarter, slower than the 6 percent expansion seen in the fourth quarter of 2019.

Half an hour later, Statistics Sweden releases GDP, foreign trade and household lending data. The economy is forecast to grow 2.2 percent on a yearly basis in the first quarter.

At 4.00 am ET, Italy's Istat releases revised GDP data for the first quarter. Also, consumer prices and GDP figures are due from Poland.

The European Central Bank is set to issue monetary aggregates for April at 4.00 am ET.

At 5.00 am ET, Eurostat publishes euro area flash consumer price data for May. Inflation is forecast to ease to 0.1 percent from 0.3 percent in April.

Also, Italy's preliminary consumer prices and Greece retail sales and producer prices reports are due at 5.00 am. Economists forecast Italy's consumer prices to fall 0.1 percent on year in May after remaining flat in April.

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