European Economics Preview: Eurozone Retail Sales, Final PMI Data Due

Retail sales and final composite Purchasing Managers’ survey results from euro area are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s foreign trade figures for June. Economists forecast exports to grow 1.0 percent on month and imports to climb 1.3 percent in June.

At 2.30 am ET, the Federal Statistical Office is set to publish Swiss consumer prices for July. Inflation is seen rising to 3.5 percent from 3.4 percent in June.

At 3.00 am ET, consumer and producer price figures are due from Turkey. Economists forecast inflation to climb to 80.5 percent in July from 78.62 percent in June.

At 3.15 am ET, Spain services and composite PMI report is due. The index is seen at 52.0 in July versus 54.0 in June.

At 3.45 am ET, S&P Global publishes Italy’s services and composite PMI data for July. The services PMI is seen at 50.1 in July, down from 51.6 in June.

S&P Global releases final composite PMI survey results for France and Germany at 3.50 and 3.55 AM ET, respectively.

At 4.00 am ET, Eurozone final composite PMI data is due for July. According to flash estimate, the flash composite output index fell to 49.4 in July from 52.0 in June.

Half an hour later, UK S&P Global/CIPS composite PMI survey results are due. The composite index is seen at 53.3 in July, in line with preliminary estimate.

At 5.00 am ET, Eurostat is set to issue euro area producer prices and retail sales for June. Sales are forecast to climb 0.1 percent on month, slower than the 0.2 percent rise in May. Economists forecast producer price inflation to climb to 35.7 percent in June from 36.3 percent in the previous month.

Source: Read Full Article