European Economics Preview: UK Monthly GDP Data Due

preview aug02 10sep21 lt

Monthly GDP and foreign trade figures are due from the UK on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial output and foreign trade figures. The economy is forecast to grow 0.6 percent on month in July, slower than the 1 percent expansion seen in June.

The UK visible trade deficit is seen at GBP 11 billion compared to a -GBP 11.98 billion shortfall in June.

In the meantime, Destatis publishes Germany's final consumer prices for August. The statistical office is expected to confirm consumer price growth of 3.9 percent.

Also, consumer prices from Norway and Denmark are due.

At 2.45 am ET, France statistical office Insee releases industrial production for July. Economists expect production to grow 0.4 percent on month after rising 0.5 percent in June.

At 3.00 am ET, Spain's INE publishes industrial production data for July. Production is forecast to expand 5.9 percent on year, following a 11.1 percent rise in June.

Consumer prices from the Czech Republic and unemployment from Turkey are also due.

At 4.00 am ET, Italy's industrial production data is due. Economists forecast industrial output to rise 0.1 percent on month in July after climbing 1 percent in June.

At 6.30 am ET, Russia's central bank announces its interest rate decision. The bank is widely expected to hike its key rate to 7.00 percent from 6.50 percent.

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