European Economic News Preview: Germany Factory Orders, Retail Sales Data Due

Factory orders and retail sales from Germany and flash consumer prices, retail sales and economic confidence from the euro area are the top economic news due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to release Germany’s manufacturing orders and retail sales figures for November. Economists forecast factory orders to fall 0.5 percent on month, reversing a 0.8 percent rise in October. Similarly, retail sales are seen rising 1.0 percent after falling 2.8 percent a month ago.

In the meantime, UK Halifax house price data is due for December. Also, industrial output data is due from Statistics Norway.

At 2.45 am ET, France’s Insee publishes consumer spending data for November. Economists forecast consumer spending to grow 1.0 percent month-on-month, in contrast to the 2.8 percent fall in October.

At 3.00 am ET, the Czech Statistical Office is set to issue industrial and construction output and foreign trade reports.

At 4.30 am ET, UK S&P/CIPS construction Purchasing Managers’ survey results are due. The construction index is expected to fall to 49.6 in December from 50.4 in the prior month.

At 5.00 am ET, Eurozone flash inflation, retail sales and economic confidence are due. Inflation is seen easing to 9.7 percent in December from 10.1 percent in November. Economists expect retail sales to grow 0.5 percent on month, reversing a 1.8 percent fall in October.

The euro area economic confidence index is seen at 94.7 in December versus 93.7 a month ago.

Source: Read Full Article