European Economics Preview: Eurozone Flash GDP Data Due

Flash quarterly national accounts, consumer prices and unemployment reports from the euro area are due on Friday, headlining a busy day for the European economic news.

At 2.30 am ET, the French statistical office Insee is set to publish first estimate for the third quarter GDP and household consumption for September. The economy is forecast to grow 15.4 percent sequentially, in contrast to a 13.8 percent fall in the second quarter.

At 3.00 am ET, Destatis is slated to release Germany’s retail sales figures for September. Economists forecast sales to drop 0.8 percent on month, reversing a 3.1 percent rise in August.

Germany’s Gfk consumer confidence survey data is due.

In the meantime, UK Nationwide house price data is due. House prices are expected to climb 5.2 percent annually after rising 5 percent in September.

At 3.45 am ET, preliminary consumer price data is due from France. EU harmonized prices are forecast to gain 0.1 percent annually after staying flat a month ago.

At 4.00 am ET, Spain’s INE releases flash GDP data for the third quarter. The economy is expected to expand 13.5 percent sequentially, reversing a 17.8 percent fall in the second quarter.

At 6.00 am ET, Eurostat is slated to issue euro area flash quarterly national accounts, consumer prices and unemployment data. The currency bloc is forecast to grow 9.4 percent sequentially in the third quarter, in contrast to an 11.8 percent fall in the second quarter.

Eurozone consumer prices are forecast to drop 0.3 percent annually in October, the same pace of fall as seen in September. The jobless rate is expected to rise to 8.3 percent in September from 8.1 percent in August.

In the meantime, Italy’s preliminary consumer price data is due. Consumer prices are forecast to fall 0.4 percent annually in October after easing 0.6 percent in September.

At 7.00 am ET, Italy’s Istat publishes GDP figures for the third quarter. GDP is expected to expand 11.2 percent on quarter versus a 13 percent drop in the second quarter.

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