European Economics Preview: Eurozone Inflation, Unemployment Data Due

preview aug27 30sep22 lt

Flash inflation and unemployment from the euro area are due on Friday, headlining a hectic day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's monthly labor market statistics.

In the meantime, the Office for National Statistics releases UK revised GDP data for the second quarter. The earlier estimate showed that the economy shrank 0.1 percent in the second quarter.

At 2.45 am ET, France's Insee publishes flash consumer prices, producer prices and consumer spending data. Consumer price inflation is seen unchanged at 5.9 percent in September.

At 3.00 am ET, the KOF leading index from Switzerland and retail sales from Spain are due.

Also, revised GDP from the Czech Republic, 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 forecast to remain unchanged at 5.5 percent in September.

At 4.00 am ET, Italy's Istat releases unemployment data for August. Economists expect the unemployment rate to remain at 7.9 percent in August.

At 4.30 am ET, UK mortgage approvals data for August is due. The number of mortgages approved in August is forecast to fall to 62,000 from 63,770 in July.

At 5.00 am ET, Eurostat is set to publish euro area flash inflation and unemployment data. Flash inflation is expected to advance to 9.7 percent in September from 9.1 percent in August. The unemployment rate is seen at 6.6 percent in August, the same rate as in July.

Also, Italy's flash consumer and harmonized prices figures are due from the statistical office Istat.

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