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European Economics Preview: Eurozone Consumer Price Data Due

preview oct22 29sep20 lt

Consumer prices from euro area, unemployment and retail sales from Germany are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases revised UK GDP data for the second quarter. The economy is forecast to shrink 20.4 percent sequentially, as initially estimated.

In the meantime, UK Nationwide house price data is due. Economists forecast house prices to rise 4.5 percent on year in September, faster than the 3.7 percent increase in August.

Also, Destatis releases Germany's retail sales, unemployment and import prices figures. Retail sales are forecast to gain 0.4 percent on month in August, in contrast to a 0.9 percent drop in July.

At 2.45 am ET, France's statistical office Insee is scheduled to issue consumer prices and household spending data. Household spending is seen falling 0.1 percent on month, reversing a 0.5 percent rise in July.

At 3.00 am ET, gross wages and producer prices from Hungary and foreign trade from Turkey are due.

At 3.55 am ET, Germany's unemployment data is due from the Federal Labor Agency. The jobless rate is expected to remain unchanged at 6.4 percent in September.

At 4.30 am ET, Bank of England is set to publish minutes of the FPC meeting.

At 5.00 am ET, Eurostat is slated to publish euro area flash consumer price data. Prices are forecast to drop 0.2 percent on a yearly basis in September, the same pace of fall as seen in August.

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