European Economic News Preview: UK Retail Sales & Public Sector Finance Data Due
(RTTNews) - Retail sales and public sector finance from the UK and consumer sentiment from Germany will be in the spotlight on Friday.
At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector finance data. Sales are forecast to grow 0.3 percent on a monthly basis in November, in contrast to the 1.1 percent drop in October. The public sector net borrowing is seen falling to GBP 10.2 billion in November from GBP 17.43 billion in October.
In the meantime, the market research group GfK is scheduled to publish Germany's consumer sentiment survey results. Economists expect the forward-looking consumer sentiment index to rise to -23 in January from -23.2 in December.
Also, Destatis releases Germany's producer prices for November. Producer prices are forecast to decline 2.2 percent year-on-year in November, following a 1.8 percent fall in October. At 2.45 am ET, France's statistical office INSEE publishes producer prices for November.
At 4.00 am ET, the European Central Bank is set to release euro area current account data for October. The current account surplus is seen falling to EUR 19.6 billion from EUR 23.1 billion in September.
At 5.30 am ET, Russia's central bank announces its monetary policy decision. The bank is widely expected to cut its key interest rate by 50 basis points to 16.00 percent.
Finally, at 6.00 am ET, the Confederation of British Industry publishes monthly Distributive Trades survey data. The retail sales balance is seen falling to -29 percent in December from -32 percent in November.
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