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European Economics Preview: UK GDP Data Due

preview oct24 12feb21 lt

Quarterly national accounts data from the UK is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK quarterly GDP, industrial production and foreign trade figures.

The British economy is forecast to grow 0.5 percent sequentially in the fourth quarter, slower than the 16 percent increase seen in the third quarter. Industrial output is seen rising 0.5 percent, in contrast to a 0.1 percent fall in November.

The UK visible trade deficit is seen at GBP 15 billion in December compared to GBP 16.01 billion shortfall in the previous month.

At 2.30 am ET, the Federal Statistical Office is slated to release Swiss consumer prices for January. Economists forecast consumer prices to fall 0.6 percent annually, slower than the 0.8 percent drop in December.

At 3.00 am ET, final consumer price data is due from Spain. The statistical office is set to confirm 0.6 percent consumer price inflation for January.

In the meantime, consumer price figures are due from the Czech Republic and Hungary. The Czech inflation is forecast to slow to 1.7 percent in January from 2.3 percent in December. Hungary's inflation is seen unchanged at 2.7 percent.

At 4.00 am ET, Poland's preliminary GDP data for the fourth quarter is due.

At 5.30 am ET, Russia's central bank is slated to issue interest rate decision. The bank is expected to hold its key rate at 4.25 percent.

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