EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY GDP, INFLATION DATA DUE

Quarterly national accounts and flash inflation data from Germany, France and Spain are due on Friday, headlining a hectic day for the European economic news. At 1.30 am ET, the French statistical office INSEE is slated to issue quarterly GDP and household consumption data. The economy is forecast to grow 0.1 percent in the second quarter after rising 0.2 percent a quarter ago.

At 2.00 am ET, retail sales and household consumption from Norway, and GDP, retail sales and unemployment figures from Sweden are due.

At 2.45 am ET, flash inflation data is due from France. Economists forecast consumer price inflation to ease to 4.3 percent in July from 4.5 percent in June.

At 3.00 am ET, flash GDP and inflation figures are due from Spain. The economy is expected to grow 0.4 percent in the second quarter after rising 0.6 percent in the first quarter. Consumer price inflation is seen at 1.6 percent in July compared to 1.9 percent in June.

At 4.00 am ET, Destatis is slated to release Germany's flash GDP data. Economists forecast the economy to grow 0.1 percent in the second quarter after a 0.3 percent drop in the preceding period.

In the meantime, producer prices from Italy and consumer prices from Poland are due. At 5.00 am ET, the European Commission publishes euro area economic sentiment survey results. The economic confidence index is expected to drop to 95.0 in July from 95.3 in June.

At 8.00 am ET, Destatis publishes Germany's flash inflation data for July. Economists expect consumer price inflation to slow to 6.2 percent from 6.4 percent in June.

News are provided by InstaForex

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