European Economics Preview: Eurozone Flash PMI Data Due
Flash Purchasing Managers’ survey data from euro area and retail sales from the UK are due on Friday, headlining a busy day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK retail sales for June. Economists forecast sales to rise 8 percent on month, slower than the 12 percent increase in May.
At 3.00 am ET, producer prices from Spain and industrial production from Austria are due.
At 3.15 am ET, IHS Markit is scheduled to issue France’s flash Purchasing Managers’ survey data. The composite PMI is seen rising to 53.5 in July from 51.7 in June.
At 3.30 am ET, Germany’s flash PMI data is due. Economists forecast the composite indicator to improve to 50.3 in July from 47.0 in June.
At 4.00 am ET, IHS Markit is set to publish euro area PMI data. The flash composite output index is expected to rise to 51.1 in July from 48.5 in June.
Half an hour later, UK flash composite PMI survey data is due. The composite index is seen at 51.1 in July versus 47.7 in the previous month.
At 6.30 am ET, Russia’s central bank is set to announce its interest rate decision. Economists expect the central bank to cut its key rate to 4.25 percent from 4.50 percent.