European Economics Preview: Eurozone Flash Inflation Data Due
Flash inflation from euro area and revised quarterly national accounts from the UK are due on Tuesday, headlining a busy day for the European economic news.
At 2.00 am ET, the Office for National Statistics publishes UK revised quarterly GDP data for the first quarter. According to previous estimate, the economy shrank 2 percent sequentially, after staying flat in the previous three months.
In the meantime, import prices from Germany and GDP data from Denmark are due. Import prices are expected to decrease 7.2 percent on year in May, after falling 7.4 percent in April.
At 2.30 am ET, the Federal Statistical Office is slated to issue Swiss retail sales for May.
At 2.45 am ET, the French statistical office Insee publishes consumer spending for May and preliminary consumer prices figures for June. Harmonized inflation is expected to remain unchanged at 0.4 percent.
At 3.00 am ET, GDP data from Spain and the Czech Republic are due. Spain’s economy is forecast to contract 5.2 percent sequentially in the first quarter, as initially estimated, after expanding 0.4 percent in the fourth quarter.
At 5.00 am ET, Eurostat is set to release flash consumer prices for June. Economists expect euro area consumer price inflation to remain unchanged at 0.1 percent in June.
In the meantime, Italy’s Istat publishes preliminary consumer price data for June. The HICP is forecast to fall 0.3 percent on year in June.