European Economic News Preview: Spain GDP Flash, Eurozone Lending Data In Focus

RTTNews | 1324 days ago

(RTTNews) - Preliminary estimates for the fourth quarter growth of the Spanish economy and lending data for the euro area are the key data releases on the closing day of this trading week.

Spain's statistical office INE is set to release the flash estimates for the fourth quarter and full year gross domestic product at 03:00 AM ET on Friday. The economy is forecast to grow 0.1 percent in quarterly comparison, repeating a similar modest growth seen in the previous three months. The year-on-year growth figure is expected to fall sharply to 2.2 percent from 4.4 percent. An hour later, the European Central Bank will be out with the December M3 money supply and lending data for Eurozone banks. The monthly release is expected to show that the money supply annual growth slowed to 4.6 percent from 4.8 percent. The year-on-year growth in loans to businesses is forecast to rise to 8.6 percent from 8.4 percent in the previous month.

At 5:30 AM ET, ECB President Christine Lagarde is set to speak on the occasion of the official unveiling of the new memorial plaque on the International Holocaust Remembrance Day in Frankfurt.

Elsewhere, the French statistical office INSEE is scheduled to release the consumer confidence survey data for January at 02:45 AM ET. Consumer sentiment in France is widely expected to have risen slightly at the start of the new year to 83 from 82. Industrial sales figures for December are due from Italy's statistical office ISTAT at 04:00 AM ET.

Several other European countries would be releasing statistical data on Friday, which includes unemployment data and retail sales, among others. Finland and Hungary are set to publish the labor market figures for December. The host of countries releasing retail sales for December include Lithuania, Norway, Sweden, Slovenia, Ireland and Latvia.

Jobless figures and household lending data are also due from Statistics Sweden. In other news, S&P Global is set to release the results of the January purchasing managers' survey for Austria. The PMI score was in the contraction territory at 47.3 in December.

Bulgaria's central bank is set to announce its latest interest rate decision at 05:00 AM ET. The key interest rate is currently at 0.59 percent. December bank lending data from Greece is expected at 06:00 AM ET.

Tags: EUR

ECB Raises Deposit Rate To 2.50% Amid Inflation Fears

The European Central Bank raised interest rates on Thursday, as expected, prompted by the fears of an inflation shock as energy prices surge amid the recent escalation of the Iran war.

RTTNews | 2 days ago

German Exports Fall For First Time In 6 Months

Germany's exports decreased for the first time in six months in July but the trade surplus increased more than expected due to the notable fall in imports, official data showed on Tuesday. Exports decreased 0.8 percent on a monthly basis in July, in contrast to the 0.9 percent increase in June, Destatis said.

RTTNews | 4 days ago

Eurozone Economic Growth Revised Up To 0.6%

The euro area economy expanded more than initially estimated in the second quarter, underpinned by exports and consumer spending, revised data from Eurostat showed Monday. Gross domestic product grew 0.6 percent sequentially after remaining flat in the first quarter. The second quarter growth was revised up from 0.4 percent estimated previously.

RTTNews | 5 days ago

Eurozone Investor Confidence Strongest Since 2022

Eurozone investor sentiment rose for the fifth straight month in September, reaching its highest level since early 2022, survey data from the behavioral research institute Sentix showed Monday. The investor sentiment index climbed more-than-expected to 5.1 in September from 0.9 in August. The reading was seen at 2.1. The latest reading was the highest since February 2022.

RTTNews | 5 days ago

German Industrial Output Falls Most In 11 Months

Germany's industrial output declined at the fastest pace in almost a year in July, largely reflecting a multi-week production shutdown in the automotive industry, official data revealed Monday. Industrial production fell 1.1 percent on a monthly basis in July after remaining flat in June. This was the biggest decline since last August, when output was down 2.1 percent.

RTTNews | 5 days ago

German Factory Orders Growth Beats Expectations

Germany's factory orders grew more than expected in July, reflecting the strong order growth in the manufacture of ships, railway rolling stock and aircraft, official data revealed Friday. Factory orders increased 2.5 percent on a monthly basis in July but slower than the revised 3.7 percent expansion seen in June. Orders were expected to rise 0.3 percent.

RTTNews | 8 days ago

Eurozone Private Sector Logs Robust Growth

The euro area private sector posted robust growth in August as the industrial economy gained momentum and services activity expanded for a second consecutive month, final survey data from S&P Global showed Thursday. The final composite output index posted 52.0 in August, unchanged from July's eight-month high and slightly down from the flash score of 52.1.

RTTNews | 9 days ago

Eurozone Manufacturing Growth Fastest Since 2022

The euro area manufacturing sector expanded at the strongest pace since 2022 in August, final data from S&P Global showed on Tuesday. The manufacturing Purchasing Managers' Index hit a 51-month high of 52.7 in August from 51.9 in July. The reading was slightly down from the flash estimate of 52.8. Both factory output and incoming new orders increased at their fastest rates since early-2022.

RTTNews | 11 days ago

EURUSD	1.1598	GBPUSD	1.3518
USDJPY	153.62	USDCAD	1.387