European Economics Preview: Germany Unemployment Data Due

preview oct26 30jun22 lt

Unemployment and retail sales from Germany and quarterly national accounts and house prices from the UK are due on Thursday, headlining a hectic day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases revised UK GDP data for the first quarter. The statistical office is expected to confirm 0.8 percent sequential growth.

Also, UK Nationwide house price data is due for June. House price inflation is expected to ease to 10.8 percent from 11.2 percent in May.

In the meantime, Destatis is slated to issue Germany's retail sales, labor market statistics and foreign trade prices. Economists forecast sales to grow 0.5 percent on month in May, reversing a 5.4 percent drop in April.

At 2.45 am ET, the French statistical office Insee publishes flash consumer prices, producer prices and consumer spending figures. Consumer price inflation is expected to rise to 5.7 percent in June from 5.2 percent in May.

At 3.30 am ET, Sweden's central bank announces its monetary policy decision. The bank is expected to raise its key rate to 0.75 percent from 0.25 percent.

At 3.55 am ET, Germany's unemployment data is due. The jobless rate is seen unchanged at 5.0 percent in June.

At 4.00 am ET, Italy's Istat is scheduled to publish unemployment data. Economists forecast the unemployment rate to remain unchanged at 8.4 percent.

At 5.00 am ET, Eurostat releases euro area unemployment data for May. The jobless rate is seen at 6.8 percent, unchanged from April.

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