European Economics Preview: Eurozone Flash PMI Data Due

preview nov05 23jun22 lt

Flash Purchasing Managers' survey results from eurozone and the UK are due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for May. The budget deficit is expected to narrow to GBP 13.2 billion from GBP 17.8 billion in April.

In the meantime, producer prices from Sweden and unemployment from Norway are due.

At 2.45 am ET, France's statistical office Insee is set to issue business confidence survey results. Economists expect the index to fall to 105 in June from 106 in May.

At 3.15 am ET, S&P Global releases France flash Purchasing Managers' survey data. The composite index is seen at 56.0 in June versus 57.0 in May.

At 3.30 am ET, Germany's flash composite PMI data is due. Economists forecast the index to drop to 53.1 in June from 53.7 in the previous month.

At 4.00 am ET, S&P Global is scheduled to issue eurozone flash Purchasing Managers' survey data for June. The composite index is seen at 54.0 versus 54.8 in May.

Also, Norges Bank announces its interest rate decision at 4.00 am. The bank is set to raise its key rate to 1.00 percent from 0.75 percent.

At 4.30 am ET, UK S&P/CIPS composite PMI data is due. Economists forecast the composite output index to remain unchanged at 51.8 in June.

At 6.00 am ET, the Confederation of British Industry publishes Distributive Trades survey results. The retail sales balance is forecast to fall to -3 percent in June from -1 percent in May.

At 7.00 am ET, Turkey's central bank announces its monetary policy decision. The bank is set to hold its one-week repo rate at 14.00 percent.

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