Friday, 3 February 2012

European Economics Preview: Eurozone Retail Sales Data Due

Retail sales and Purchasing Managers' survey results from Eurozone are the major reports due on Friday, suggesting a light day for the European economic news.


At 3.00 am ET, the Czech Statistical Office is slated to release retail sales data. On a yearly basis, growth in sales is forecast to remain unchanged at 0.5 percent. In the meantime, Turkey's consumer and producer prices are due.

Final services PMI figure are due from France and Germany at 3.50 am and 3.55 am ET, respectively. Markit is set to issue final Eurozone composite PMI data at 4.00 am ET. The Eurozone composite PMI is seen at 50.4 and services PMI at 50.5 in January. Both readings are expected to match preliminary estimate.

Half an hour later, U.K. Markit/CIPS services PMI data is due. The indicator is seen falling to 53.3 in January from 54 in December.

At 5.00 am ET, Eurozone retail trade figures are due from Eurostat. Economists forecast retail sales to rise 0.3 percent month-on-month in December after falling 0.8 percent in November. On a yearly basis, retail sales are expected to fall 1.3 percent.

In the meantime, Italy's statistical office Istat is scheduled to issue preliminary consumer price data. EU harmonized inflation is expected to fall to 3.6 percent from 3.7 percent in December. Month-on-month, the index is forecast to drop 1.7 percent.

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